Natixis Investment Managers 2026 Global Retirement Index Highlights Growing Retirement Pressures in North America
The retirement outlook across North America is facing increasing financial and structural pressures, according to the 2026 Global Retirement Index (GRI) from Natixis Investment Managers. The United States ranked 24th and Canada 21st among the 44 countries assessed in the latest edition of the index, with inflation, rising living costs, government indebtedness, healthcare expenses, and changing expectations around retirement funding contributing to concerns about long-term financial security.
The findings indicate that although both countries continue to benefit from strengths in areas such as healthcare, financial markets, and retirement infrastructure, economic pressures are affecting their overall retirement-security positions. For individuals approaching or already in retirement, the changing environment is also placing greater emphasis on personal savings, investment planning, retirement income strategies, and professional financial guidance.
Developed in partnership with CoreData Research, the Global Retirement Index measures retirement security using 18 indicators grouped into four major areas: Finances in Retirement, Material Wellbeing, Health, and Quality of Life. The 2026 analysis covers 44 countries and examines the economic, social, and financial conditions that influence people’s ability to maintain a secure standard of living during retirement.
North American Retirement Security Faces New Financial Challenges
The 2026 index highlights how changing economic conditions are affecting retirement planning in both the United States and Canada. Persistent inflation has increased the cost of essential goods and services, while higher housing, food, healthcare, and other household expenses can reduce the amount individuals are able to save for retirement.
At the same time, government debt remains a concern. Public finances influence perceptions about the sustainability of government-supported retirement programs and can shape how much responsibility individuals believe they must assume for their own retirement funding.
Dave Goodsell, Executive Director of The Natixis Center for Investor Insight, said retirement security in North America is being reshaped by inflation, public debt, and changing expectations about how people will finance their later years.
He noted that although the United States and Canada have different economic and policy environments, investors in both countries are experiencing higher costs and assuming greater responsibility for building retirement resources.
Goodsell also emphasized the importance of retirement policy, active financial planning, and professional guidance as individuals navigate an increasingly complicated retirement environment.
Inflation Continues to Affect Retirement Finances
One of the most significant issues identified by the index is the continuing impact of inflation on retirement finances.
For retirees and individuals approaching retirement, inflation can have a particularly important effect because many retirement plans are designed around assumptions regarding future expenses and purchasing power. When the cost of food, housing, healthcare, and other necessities rises faster than expected, accumulated savings may need to support a longer and more expensive retirement.
In the United States, renewed inflationary pressure contributed to a weaker performance in the Finances in Retirement sub-index. The issue is also affecting perceptions among investors and financial professionals.
According to Natixis Investment Managers’ Individual Investor Survey, 35% of North American financial advisors identify underestimating inflation’s impact as a major retirement-security risk. In the United States, 41% of investors say inflation is undermining their retirement aspirations.
These concerns demonstrate that inflation is not viewed solely as a short-term economic issue. For retirement investors, sustained price increases can influence asset allocation, savings requirements, spending assumptions, and the amount of income required after leaving the workforce.
Canada has experienced similar pressures. Its Finances in Retirement sub-index declined by two positions compared with 2025, with higher household costs contributing to the deterioration.
Rising Living Costs Put Pressure on Canadian Households
The Canadian retirement outlook is also being influenced by increases in essential household expenses.
Food and housing costs have become particularly important factors in determining household financial resilience. Rising expenses can make it more difficult for lower- and middle-income households to accumulate sufficient retirement savings, potentially widening differences in financial security between households.
Income inequality is therefore another consideration within the broader retirement-security picture.
While Canada experienced an improvement in its health-related ranking, financial pressures continued to weigh on the country’s overall retirement position. The findings suggest that progress in one area of retirement security does not necessarily offset deterioration in another.
For individuals, the challenge is increasingly about balancing long-term savings with current financial obligations while accounting for uncertainty around future expenses.
Interest Rate Uncertainty Remains a Concern
Interest rates represent another important factor affecting retirement planning.
Both the United States and Canada recorded improvements in the interest-rate indicator within the 2026 assessment. However, financial professionals continue to identify uncertainty around interest rates as a meaningful market risk.
Natixis Investment Managers’ Global Financial Advisor Survey found that 37% of North American advisors consider interest-rate uncertainty a leading risk in current market conditions.
Changes in interest rates can influence bond prices, borrowing costs, savings returns, mortgage expenses, and investment valuations. For retirees who rely on fixed-income investments or income-generating assets, these changes can have direct implications for portfolio construction and retirement income.
The combination of inflation and interest-rate uncertainty makes retirement planning more complicated because investors must account for both current financial conditions and potential changes over a retirement period that could span several decades.
Government Debt Raises Questions About Future Retirement Benefits
Public debt is another significant concern identified in the report.
The United States continues to record a relatively weak position on the Government Indebtedness component of the index. A large majority of U.S. investors surveyed by Natixis IM believe rising public debt could eventually lead to reductions in retirement benefits.
Three-quarters of U.S. investors say mounting government debt could result in reduced retirement benefits in the future. This sentiment reflects concerns about the long-term sustainability of public retirement programs and the potential policy changes that could emerge as governments address fiscal pressures.
Canada also faces concerns related to government debt. The issue contributed to a four-position decline in its Finances in Retirement sub-index.
These concerns are occurring alongside efforts by governments to strengthen retirement savings and investment opportunities.
In the United States, legislation including SECURE 2.0 has introduced measures intended to expand retirement savings opportunities. More recently, newly established U.S. 530A accounts, also referred to as Trump accounts, provide tax-advantaged savings and investment structures for children intended to support long-term financial accumulation.
Despite such initiatives, investor confidence in relying on government retirement benefits remains limited.
Eight out of 10 U.S. investors surveyed by Natixis say they increasingly view funding their retirement as their own responsibility rather than relying primarily on a combination of public and private pensions. In addition, 41% are concerned that government retirement benefits could be reduced.
Healthcare Creates Different Retirement Concerns
Healthcare is another area where the retirement outlook differs between the United States and Canada.
Canada recorded a notable improvement in the Health sub-index, moving up four positions relative to the other countries surveyed. The improvement was associated with an increase in health expenditure per capita.
The United States faces a different set of concerns. Healthcare and long-term care costs are significant considerations for Americans preparing for retirement.
According to Natixis IM’s survey, 35% of U.S. investors identify running out of money because of healthcare and long-term care expenses as their greatest retirement fear. That compares with 24% globally.
Healthcare expenses can have a substantial impact on retirement planning because they are difficult to predict and can increase considerably during later stages of life. Unexpected medical expenses may also require retirees to draw more heavily on investment portfolios.
The report indicates that healthcare costs are also an important factor in the growing interest among some Americans in retiring abroad. For U.S. retirees considering international relocation, healthcare expenses represent the largest difference between the cost of retiring domestically and the cost of retirement in another country.
Investors Increasingly Seek Professional Retirement Guidance
The combination of economic uncertainty, concerns about public retirement benefits, and rising healthcare costs is influencing the relationship between investors and financial advisors.
Among the various services provided by financial professionals, retirement income and planning is the highest priority for U.S. investors, with 61% identifying it as a leading area of interest.
The findings suggest that investors are looking for assistance not only with accumulating assets but also with converting those assets into sustainable retirement income.
Both U.S. and Canadian advisors place significant emphasis on anticipating future expenses. Sixty-two percent of U.S. advisors and 58% of Canadian advisors identify future-expense planning as important.
However, their approaches to retirement planning differ.
Different Planning Priorities Among U.S. and Canadian Advisors
U.S. advisors place considerable emphasis on starting retirement savings early and maintaining investment growth over time.
Sixty-eight percent of U.S. advisors identify “saving early and often” as an essential retirement-planning principle.
Canadian advisors have a somewhat broader distribution of priorities. Thirty percent agree that consistent saving is the most important retirement rule, while another 29% emphasize ensuring that accumulated savings can last throughout retirement.
The difference becomes more pronounced during the decumulation phase.
Seventy percent of U.S. advisors say retirees still need their assets to grow after entering retirement. By comparison, 30% of Canadian advisors identify continued asset growth as a priority.
U.S. advisors are also more likely to identify the absence of a retirement income plan as a major retirement-security risk, with 28% citing it compared with 15% of Canadian advisors.
Canadian advisors place greater emphasis on the longevity of retirement savings. Half say retirees need to recognize that a lump sum must potentially support them for an extended retirement period, compared with 25% of U.S. advisors.
Tax Planning and Public Benefits Remain Key Considerations
Tax considerations are another important component of retirement planning.
Across North America, 41% of advisors identify understanding the tax implications of investments as a key retirement risk. Tax treatment can influence the amount of income retirees ultimately retain and can affect decisions involving investment accounts, withdrawals, asset allocation, and estate planning.
Canadian advisors are somewhat more likely than their U.S. counterparts to identify excessive dependence on public retirement benefits as a concern. Thirty-five percent of Canadian advisors cite this issue compared with 25% of U.S. advisors.
The findings reflect the broader shift toward individual responsibility for retirement funding. As expectations around government-supported retirement income change, individuals may need to consider a wider range of savings and investment strategies.
Private Assets Enter the Retirement Planning Conversation
The changing retirement environment is also prompting advisors to consider a broader investment toolkit.
Private assets are one area attracting attention. According to the survey, 71% of Canadian advisors and 43% of U.S. advisors believe private assets can have a role within retirement portfolios.
The inclusion of private-market investments can potentially provide investors with access to asset classes beyond traditional public stocks and bonds, although such investments can involve different liquidity, valuation, risk, and access considerations.
The survey results demonstrate that advisors are considering how investment portfolios can evolve as retirement needs become more complex.
For financial professionals, the challenge extends beyond selecting investments. Advisors must also account for clients’ spending requirements, longevity, taxes, healthcare costs, inflation, market volatility, and the timing of withdrawals.
A More Complex Retirement Landscape
The 2026 Global Retirement Index presents a retirement environment in which economic conditions, government finances, healthcare costs, and individual investment decisions are increasingly interconnected.
The United States and Canada continue to demonstrate strengths in selected areas of retirement security, but both are experiencing pressure from higher living costs and concerns about the long-term sustainability of retirement funding.
For individuals, these conditions increase the importance of understanding how savings, investments, taxes, healthcare expenses, and retirement income interact over time. For financial advisors, they create demand for more detailed retirement planning and ongoing portfolio management.
The findings also underline the importance of distinguishing between accumulating retirement assets and managing those assets after retirement begins. As people live longer and face uncertain expenses, ensuring that savings can support long-term income needs becomes an increasingly important part of financial planning.
The 2026 GRI, developed by Natixis Investment Managers and CoreData Research, provides a comparative framework for examining these challenges across 44 countries. Its four sub-indices—Finances in Retirement, Material Wellbeing, Health, and Quality of Life—capture multiple dimensions of retirement security rather than focusing solely on investment performance or household savings.
The analysis was conducted between March and May 2026 and incorporates 18 indicators used to assess retirement conditions across the countries included in the study.
The full report is available through Natixis Investment Managers’ Global Retirement Index research platform for investors, advisors, policymakers, and other stakeholders examining the changing retirement landscape.
Methodology
The Global Retirement Index was developed by Natixis Investment Managers in collaboration with CoreData Research to evaluate the conditions that influence retirement security and provide an international comparison of retirement-related factors.
The index covers 44 countries, including IMF advanced economies, members of the Organisation for Economic Co-operation and Development, and the BRIC countries—Brazil, Russia, India, and China.
Researchers calculate scores across individual indicators and combine them into four principal sub-indices: Finances in Retirement, Material Wellbeing, Health, and Quality of Life. The resulting scores are used to establish the overall comparative position of each country included in the study.
Natixis Investment Managers’ 2025 Global Individual Investor Survey, referenced in the report, was conducted by CoreData Research during February and March 2025 and included 7,050 individual investors across 21 countries in Asia, Europe, Latin America, and North America.
The Global Financial Advisor Survey referenced in the findings included 2,950 investment professionals across 23 countries. CoreData collected the data between March and May 2026, with additional analysis conducted by the Natixis Center for Investor Insight.
Together, the index and supporting surveys illustrate how inflation, public debt, healthcare expenses, investment markets, and changing expectations around government retirement support are influencing the way investors and financial professionals approach retirement planning in North America.
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