The United States and Canada fell to 24th and 21st, respectively, in Natixis Investment Managers’ (Natixis IM) 2026 Global Retirement Index (GRI), as financial pressures outweighed areas of progress. Higher cost of living driven by sticky inflation weighs on both countries’ Finances in Retirement scores, with government indebtedness posing an ongoing challenge as well. Amid instability, investors are turning to financial professionals for support.

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Top 10 countries in 2026 GRI

Top 10 countries in 2026 GRI

“Retirement security across North America is being reshaped by inflation, rising public debt and changing expectations around how individuals will fund their later years,” said Dave Goodsell, Executive Director of The Natixis Center for Investor Insight. “While the U.S. and Canada face distinct challenges, investors in both countries are confronting rising costs and greater responsibility for funding their retirement. Sound retirement policy, active planning and professional guidance are all critical to helping individuals navigate that shift.”

Developed with CoreData Research, the Global Retirement Index evaluates retirement security across 44 countries using 18 indicators grouped into four sub-indices: Finances in Retirement, Material Wellbeing, Health and Quality of Life.

Inflation and market uncertainty weigh on retirement security

Market pressures continue to drag on retirement security. Inflation is creeping higher once more, dragging down the United States’ Finances in Retirement sub-index score. Investors and financial advisors are feeling the squeeze, with 35% of North American advisors saying that underestimating the impact of inflation is top retirement security risk and 41% of U.S. investors saying that inflation is killing dreams of retirement, according to Natixis IM’s Individual Investor Survey.*

Higher inflation also contributed to the decline in Canada’s Finances in Retirement sub-index score, which dropped two places from 2025. Rising costs of food and housing continue to widen the gap between households, increasing overall income inequality.

While the interest rate indicator improved in both the United States and Canada, investors and financial advisors continue to feel the pressure. According to Natixis IM’s Global Financial Advisor Survey,** over a third (37%) of North American advisors say that interest rate uncertainty is still a top risk in current market conditions.

Public debt erodes confidence in government retirement support

North American investors’ confidence in government support for retirement is declining. The United States continues to score low in the Government Indebtedness sub-index, and three-quarters of U.S. investors believe the country’s mounting public debt will result in reduced retirement benefits down the line. Canada fared little better in this area, with government debt contributing to its overall four-place drop in the Finances in Retirement sub-index.

Investor sentiment on retirement is at odds with the U.S. policy landscape. Lawmakers have recently passed measures such as the 2022 SECURE 2.0 legislation and newly established U.S. 530A accounts (Trump accounts) that provide a tax advantaged account for children designed to build long-term savings and investment. However, these policies are doing little to assuage concerns; eight in ten U.S. investors still feel that it’s increasingly their own responsibility to fund their retirement as opposed to relying on both public and private pensions, and 41% worry that government retirement benefits will be cut.

Healthcare costs create diverging outlooks in the United States and Canada

The United States and Canada begin to diverge in the Health sub-index, which considers health expenditure and life expectancy. Canada’s health ranking saw significant gains, rising four places relative to other countries surveyed as health expenditure per capita increased.

However, healthcare costs are a concern among U.S. investors. Over a third (35%) say their greatest fear in retirement is that they will run out of money trying to cover healthcare and long-term care costs, more than ten percentage points higher than the global average (24%).

Additionally, high healthcare costs may represent a key driver of increasing retirement migration among Americans; For the United States, healthcare costs represent the largest gap between the cost of retiring domestically versus abroad.

Advisors adapt retirement planning to evolving investor needs

Turbulent market conditions, eroding faith in government support, and anxiety around healthcare costs are driving investors to seek out closer relationships with their financial advisors. Out of several advisor-based services, U.S. investors are the most interested in retirement income and planning, with 61% listing it as their top priority.

Both U.S. (62%) and Canadian (58%) advisors emphasize the importance of anticipating future expenses, but their planning priorities differ. Sixty-eight percent of U.S. advisors say “saving early and often” is an essential rule for retirement, while Canadians advisors are more spread out in their advice. While 30% of Canadian advisors agree with U.S. advisors that saving is the most essential rule for retirement planning, another 29% emphasize remembering the need for savings to last.

U.S. advisors place greater emphasis on maintaining portfolio growth in retirement, with 70% saying retirees still need their assets to grow during decumulation, compared with 30% of Canadian advisors. They are also more likely to cite the lack of a retirement income plan as a leading risk to retirement security (28% vs. 15%).

Canadian advisors focus more on making accumulated savings last. Half say recognizing that a lump sum must stretch over a long retirement is an essential consideration, compared with 25% of U.S. advisors.

Across North America, advisors also cite understanding the tax implications of investments as a key retirement risk (41%), while Canadian advisors are somewhat more likely than U.S. advisors to flag overreliance on public retirement benefits (35% vs. 25%).

As retirement planning becomes more complex, advisors are also looking at a broader range of investments to help clients meet long-term needs. Seventy-one percent of Canadian advisors and 43% of U.S. advisors say private assets can play a role in retirement portfolios, underscoring the opportunity to expand the investment toolkit available to retirement savers.

View and download a full copy of the report: https://im.natixis.com/en-intl/insights/investor-sentiment/2026/global-retirement-index

* Natixis Investment Managers’ 2025 Global Individual Investor Survey was conducted by CoreData Research in February and March 2025. The survey included 7,050 individual investors in 21 countries across Asia, Europe, Latin America, and North America.

** Natixis Investment Managers surveyed 2,950 investment professionals across 23 countries. Data was gathered in March-May 2026 by the research firm CoreData with additional analysis conducted by the Natixis Center for Investor Insights.

Methodology

The Global Retirement Index (GRI) is a multi-dimensional index developed by Natixis Investment Managers and CoreData Research to examine the factors driving retirement security and to provide a comparison tool for best practices in retirement policy. The index includes International Monetary Fund (IMF) advanced economies, members of the Organization for Economic Cooperation and Development (OECD) and the BRIC countries (Brazil, Russia, India and China). The researchers calculated a mean score in each category and combined the category scores for a final overall ranking of the 44 nations studied. The GRI analysis was carried out between March to May 2026.

About the Natixis Center for Investor Insight

The Natixis Center for Investor Insight is a global research initiative focused on the critical issues shaping today’s investment landscape. The Center examines sentiment and behavior, market outlooks and trends, and risk perceptions of institutional investors, financial professionals and individuals around the world. Our goal is to fuel a more substantive discussion of issues with a 360° view of markets and insightful analysis of investment trends.

About Natixis Investment Managers

Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and focused expertise of more than 15 active managers. Ranked among the world’s largest asset managers1 with more than $1.5 trillion assets under management2 (€1.3 trillion), Natixis Investment Managers specializes in high-conviction active investment strategies, insurance and pension solutions, and private assets, and delivers a diverse offering across asset classes, styles, and vehicles. The firm partners with clients in order to understand their unique needs and provide insights and investment solutions tailored to their long-term goals.

Headquartered in Paris and Boston, Natixis Investment Managers is part of Groupe BPCE, the second-largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks. Natixis Investment Managers’ affiliated investment management firms include AEW; DNCA Investments;3 Flexstone Partners; Gateway Investment Advisers; Harris | Oakmark; Investors Mutual Limited; Loomis, Sayles & Company; Mirova; Naxicap Partners; Ossiam; Ostrum Asset Management; Seventure Partners; Vauban Infrastructure Partners; Vaughan Nelson Investment Management; VEGA Investment Solutions and WCM Investment Management. Additionally, investment solutions are offered through Natixis Investment Managers Solutions and Natixis Advisors, LLC. Not all offerings are available in all jurisdictions. For additional information, please visit Natixis Investment Managers’ website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers.

Natixis Investment Managers’ distribution and service groups include Natixis Distribution, LLC, a limited purpose broker-dealer and the distributor of various US registered investment companies for which advisory services are provided by affiliated firms of Natixis Investment Managers, Natixis Investment Managers International (France), and their affiliated distribution and service entities in Europe and Asia.

1 Survey respondents and publicly available data ranked by Investment & Pensions Europe/Top 500 Asset Managers 2026 ranked Natixis Investment Managers as the 21st largest asset manager in the world based on assets under management as of December 31, 2025.

2 Assets under management (AUM) of affiliated entities measured as of June 30, 2026, are $1,525.1 billion (€1,334.0 billion). AUM, as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of nonregulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers.

3 A brand of DNCA Finance.

All investing involves risk, including the risk of loss. Investment risk exists with equity, fixed-income, and alternative investments. There is no assurance that any investment will meet its performance objectives or that losses will be avoided.

The views and opinions expressed may change based on market and other conditions. This material is provided for informational purposes only and should not be construed as investment advice. There can be no assurance that developments will transpire as forecasted. Actual results may vary.

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