Special Report

The Best (and Worst) Countries to Grow Old In

7. Iceland
> Total population: 323,000
> Pct. population aged 60+: 18.3% (50th highest)
> GDP per capita: $33,530 (19th highest)
> Life expectancy at 60: 25 (tied 2nd highest)

Iceland is one of the best countries in the world for income security among elderly residents. All Iceland residents over 65 years old received a pension, tied for the highest rate in the world, while the poverty rate for elderly Icelanders is just 1.6%, the second lowest in the world. Icelanders are also quite healthy, with the average life expectancy for a 60 year old tied for second highest globally, at 25 years. Iceland also provides older residents with personal freedom, with 95% of people over 50 stating they felt satisfied with the freedom of choice in their lives. However, the elderly account for a relatively small 18.3% of the Nordic nation’s population, with just 61,000 residents over 60 years old.

6. Netherlands
> Total population: 16.8 million
> Pct. population aged 60+: 23.8% (20th highest)
> GDP per capita: $37,063 (11th highest)
> Life expectancy at 60: 24 (tied-13th highest)

The Netherlands is one of the best countries in the world for income security among the elderly. All residents of the country over 65 years old received a pension, tied for the highest rate in the world, while just 3.1% of the country’s population over 60 years old lived in poverty, the seventh lowest rate nationwide. This year, 24% of the population will be at least 60 years old, but by 2050 this figure will rise to nearly a third of the population. General government debt in the Netherlands is projected to total 75% of GDP by the end of 2014, fairly low for a eurozone country. And while household debt is a major issue for younger residents of the Netherlands, according to the IMF, older residents benefit from large pensions and little mortgage debt.

ALSO READ: The 10 States With the Best Quality of Life

5. Germany
> Total population: 80.9 million
> Pct. population aged 60+: 27.5% (2nd highest)
> GDP per capita: $34,620 (18th highest)
> Life expectancy at 60: 24 (tied-13th highest)

Germany currently has the second highest proportion of residents aged 60 and older, at 27.5% of the population, trailing only Japan. By 2040, this figure will rise to nearly 40% of the population. Germany’s population has grown little in recent years, with German Federal Statistical Office data indicating that immigration has offset the decline in the population of native Germans. Still, with 100% pension coverage for seniors, and a GDP per capita $34,620, among the better figures in the world, few nations few nations provide better income security in old age thanGermany. Additionally, Germans over 60 years old are generally well-educated and can expect to live quite long, making Germany one of the best nations to grow old in.