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NewsWhere’s the best place in the world to grow old?
Where’s the best place in the world to grow old?

Where’s the best place in the world to grow old?

Tags: Cost of Living
Last updated by Jess Lindell on

Om5tVYTAnd the Winner is Norway, according to the 2014 Global AgeWatch Index, which ranks the quality of life for the elderly.

Norway tops the list of 96 countries with Australia ranking 13th overall, behind Canada, Japan, the US, New Zealand and other western European nations.

The report highlights that while pension coverage has increased across the globe, overall social and economic policies are failing to keep pace with changing demographics.

Alarmingly Australia ranked 61st in terms of income security, which assess a person’s access to money and their capacity to spend it independently.

Australia scored below average on pension coverage and welfare rates and we have the highest old age poverty rate at 35.5 per cent in our region, which includes Western Europe, North America and Australasia.

This isn’t new, only recently we wrote about the increasing number of older Australians retiring overseas to make their money go further.

But it does beg the question why is Australia ranked so poorly for income security despite being a wealthy nation?

The fact that we don’t have a universal pension may skew the income security findings according to news.com.

COTA warns that any further adverse changes to the pension, such as cuts to payments or raising the pension age will only make things worse.

Whilst the results on income security raise alarm bells, Australia ranked exceptionally well in all other areas such as health and employment.

So what makes Norway the winner?

In Norway you’ll find some of the richest pensioners in the world thanks to an oil funded pension scheme, as well as some age friendly policies and concessions.

In fact, everyone over the age of 67 gets a monthly state pension and pay half price for public transport. Furthermore, 70 per cent of people aged between 55 and 64 are in full-time jobs.

On the other hand, Norway consistently ranks as one of the most expensive countries in the world.

And.. well… it’s freezing, with temperatures reaching below -40°C during the winter months and you’re looking at averages of around 15°C during the summer months. No thanks.

Would you want to grow old overseas? Share your thoughts below.

Originally posted on .

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Wolfgang
Wolfgang from NSW commented:

Well, when you consider that the cost of renting a 3BR apartment in Penang is 25%, in Bali 65%, in Chiang Mai 30% and in Manila 35% CHEAPER than in Sydney.... and a food basket in Penang is 25%, in Bali 35%, in Chiang Mai 30% and in Manila 33% CHEAPER than in Sydney..... WHO WOULD NOT CONSIDER TO MOVE SOMEWHERE ELSE !!! Wolfgang Bose 

Pamela
Pamela from NSW commented:

I cannot afford to live in Australia when I retire. Private rental is far too expensive and there are no public housing available at under 10 years waiting time. So - I am planning on moving to the USA to live near my son. I can BUY a 3 bedroom 2 bathroom mobile home for $15,000, site fees $100 a month max. To furnish it less than $5,000. The only problem is the medical side - I am researching insurance. BUT if Abbott carries through his words on stopping paying the pension overseas there will be one more bag lady on the streets soon. 

Byrne
Byrne from QLD commented:

The Thai hospitals are very good, very up to date and by our standards very cheap, I have had both hospital and dental treatment in Thailand ,Singapore and the Philippines, all very professional and easily up to Australian standards, Singapore is world class but also more expensive than the rest of Asia, The last dental treatment I had in the Philippines cost me 6000 pesos to replace two crowns, Thats including the X ray before and after, ceramic crowns, with stainless backing, all done very professionally and absolutely painlessly, They ensure you feel no pain which some Australian dentists seem to think is part of the process.To become a dentist in Asia usually means you have wealthy parents , so all your training is done at a foreign university, I notice mostly Ireland ,the UK and the US, so there is nothing wrong with the work over there, I can recommend them absolutely. 

Michael
Michael from VIC commented:

It would be a pleasure to grow old overseas. When our own government continues to rip us off like this, why wouldn't we? 

Georgina
Georgina from NSW commented:

Australians need to accept responsibility for their ELECTED Governments & the Policies that they winge about. Australians put these Pollies into power with their hair brain schemes & when the bloody wheels fall off whinge "It Howards fault" "It's Labor's fault", NO its your fault for expecting so little from them & not making them accountable! Our politicians will never have to be concerned with not having enough income in retirement that's certainly one thing that politicians from both sides & middle of politics have ensured, its just the idiots that elected them who have to worry!! Labor played games for 6 years of Government, now Liberals are doing the same, helped out by Independents & minority parties! INSIST that pollies stop playing political games of one-up-manship & work for the majority!! 

Kevin
Kevin from VIC replied to Georgina:

You are partially correct Georgina. Yes we are responsible for who we elect and yes the majority of Australians fall for the same "free ride" promises made to them every election. But, we (the people) have no real power to change anything. Our system of government was designed by politicians ( the more cynical like myself would add for the benefit of politicians) and prevents any change occurring unless implemented by the politicians themselves. All sides play the same game - promise the world; deliver very little and blame the previous government. No one is accountable for their actions other than by losing their seat and in the majority of cases those who do have been there long enough to ensure their snouts are well embedded in the public trough and they are on massive benefits for life unattainable to normal working Aussies. 

Lynn
Lynn from QLD replied to Georgina:

You may a very valid point, Georgina, but it is truly impossible to know whether the promises made pre-election will actually be honoured. Both side of the political spectrum plays the same game and, although we all know that what they say is 'probably not going to happen' we are all casting our votes with optimism. Until we have accountability from our politicians or, miraculously, a 'Statesman' enters the arena I can't see anything changing. 

Dave
Dave from NSW commented:

I am now 69yrs. Young with Good Health, I regard Myself as being among the "Lucky" ones being Born and Raised within This (Kind Climate) Country called " Australia.." As a Pensioner with a Modest Superannuation i do ALL the things that One wants without Any complaints maintaining a Standard of Life... " I Rate Australia as being (The) Number 1 " country throughout the world's Advanced Nations and would NOT reside within any other country. Aussie - Aussie - Aussie - Oiy - Oiy - Oiy.. Dave from Sydney. 

Gordon
Gordon from QLD commented:

Australia will not let you grow old overseas! They will not pay your pension to you in another country they are to mean, unlike NZ, that pays me some pension, but centrelink takes half of this. Then they pay me less than my NZ pension? This is a mean country to Pensioners, because they can. There is no process yet to punish Politicians. Which is why we are below the poverty line. Forget retiring overseas Abbot will not allow it. 

Christopher
Christopher from QLD commented:

Why should our Country,or any Country you live in be so expensive,with the average couple in their 40's earning approx $350,000 per year.I remember the Howard years,he was the creep who destroyed this Country,and encouraged his CEO system which is what caused the massive wage explosion. When these greedy CEO's are pulling $Millions for just sitting in offices looking out windows,everybody believed they are worth more as well. Now look at the mess. Checkout chicks earning $25 per hour on Sundays! In USA and Japan they earn $6 per hour any day of the week.This Country requires a massive wage adjustment,starting at the top. 

Mike
Mike from NSW replied to Christopher:

Christopher -- Do not worry about the handful of CEO's and other RICH folk - They also have to pay TAX and in total would not be 1% of the working population. It is the UNIONS that have pushed the wages higher with ridiculous demands and conditions. I am in the Construction industry and I can tell you that now I have to have 3 men to do a one man job (OH&S) Plus many penalty rates for different types of work . I think a the UNIONS and LABOR have a lot of DIRT on their face which they have to hide. Think Craig Thompson, Labor politians who are all EX UNION and rewarded by a SAFE SEAT -- You call that democracy? Yes we vote but they select who you can vote for 

Martin
Martin from QLD commented:

Maybe that should read "Would you want to grow c..old overseas? LOL 

Luciano
Luciano from NSW commented:

After having travelled extensively around the world, I remember selecting Australia as the best country to live in, some 45 years ago. Well. I must say, the situation regretfully has now changed quite dramatically: Criminality and drugs' usage have increased exponentially, cost of living has skyrocketed, hospitals and schools are just insufficient and in some cases inadequate, roads and public transport leave a lot to be desired, minerals and other raw materials are being exploited by foreign organizations whose main concern is to maximize returns for their share holders, some of the best farming land has been and is being sold to foreign governments/interests.....Do I need to continue? Does the current government believe the recent signing of trade agreements with China to really be a victory? Can't anyone appreciate China would have not entered into any agreement without having first measured its own gains!!! Are our Government representatives so naïve and incompetent not to realize Australia is currently being exploited...!! I am aware there are some pensioners unable to buy medicines and/or to eat or to keep themselves warm and/or cool as it might be applicable, there are apparently some 500k children surviving in below poverty conditions, the number of homeless people is increasing considerably, etc., etc.!!! Let us stop wasting money....!! We have just promised to contribute $200Million for actions related to climate change, etc. What about spending that money to improve people's living conditions in Australia?!?! Are we really happy with the way in which things are progressing??? Surely not!! 

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