The UK has fallen one place to 15th in Natixis Investment Managers’ 2026 Global Retirement Index (GRI), with a sharp deterioration in its health ranking offsetting improvements in material wellbeing.
The UK’s overall score remained unchanged at 72%, while its health ranking fell 12 places to 22nd, the largest decline among the four sub-indices.
The biggest driver was life expectancy, which fell 10 places to 27th. The index also cited longstanding pressures on the National Health Service (NHS) and widening health inequalities.
The UK’s material wellbeing ranking improved five places to 21st, with its score rising two percentage points to 62%. Income equality was the main contributor, climbing seven places to 31st following above-inflation increases in the minimum wage and welfare benefits. Unemployment improved one place to 20th, while income per capita fell two places to 20th.
The UK also slipped one place to 20th for finances in retirement, with government indebtedness remaining a significant weakness. Its quality of life ranking fell two places to 13th, despite a four-place improvement in environmental factors to 10th. Happiness fell two places to 23rd.
Among developed larger countries, Germany ranked first and the UK second. In the overall global ranking, Norway retained first place with a score of 83%, followed by Ireland at 81%. Small nations continued to dominate the top 10.
“This year’s Index reinforces the urgency for outdated retirement systems to evolve and modernise, adapting to longer lives and changing work patterns”
Andrew Benton, Natixis IM
The index, produced by Natixis IM in collaboration with CoreData Research, assesses 18 indicators across finances in retirement, material wellbeing, health and quality of life.
Natixis argued that retirement systems built on 20th-century assumptions are under increasing strain as populations age, people live longer and individuals shoulder more responsibility for funding retirement.
Andrew Benton, head of Northern Europe and MEACA at Natixis IM, said: “This year’s Index reinforces the urgency for outdated retirement systems to evolve and modernise, adapting to longer lives and changing work patterns. Policy reform can help move people from retirement saving to retirement investing, improving the odds of retirement security.”
He added: “Whilst modernising policy can improve the chance of retirement security, individuals must also take ownership of their retirement journey, saving now and consistently. Every year of delay increases the pressure on the years that remain ”
Natixis pointed to the UK’s auto-enrolment system as an example of policy addressing inertia, saying participation had increased from 55% to 90%.
David Goodsell, executive director at the Centre for Investor Insight, said: “For many investors, the challenge is knowing how much they need to retire, and the long-term resilience of their savings, which may be impacted by health, economic, or environmental disruptions. Divine intervention isn’t a practical strategy to today’s retirement funding problems, but policy intervention holds hope for real progress.”
