Narayan AmmachchiMexico has emerged as the best country in Latin America to retire, according to the latest Global Retirement Index (GRI) published by Natixis Investment Managers.
The country climbed ahead of Chile this year, ranking 35th globally, while Chile slipped to 37th.
Mexico performed strongly in the retirement finances (64%) and quality of life (56%) categories, though it lagged in material well-being and health (49%).
In contrast, Chile scored high in health (70%) and retirement finances (69%), but recorded a notably weak result in material well-being (26%).
Brazil ranked 40th with an overall score of 48%, bolstered by solid results in quality of life (62%) and retirement finances (59%), while also struggling in material well-being (27%).
At the lower end of the regional rankings, Colombia remained second-to-last among 44 countries. The country continues to face challenges in material well-being (7%), despite moderate results in health and quality of life (55%).
Natixis noted that policymakers across Latin America are taking steps to strengthen pension systems as the region faces an aging population.
Mexico is expanding mandatory pension contributions and considering raising the retirement age, while Colombia is seeking to unify its public and private pension systems to increase coverage. Peru, meanwhile, is studying measures to extend pension benefits to non-contributors.
The report warned that population aging and rising public debt are putting mounting pressure on retirement systems worldwide.
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