New Zealand rose thirteen places to take ninth place – as one of the two non-European nations to make it into the top 10. Lighter taxpressures and better performing bank loans boosted its performance in the finances in retirement category.
South Korea was up 10 places to 17th and was buoyed by a favourable interest rate environment and low levels of government debt.
The U.S. trailed behind in 19th place behind other developed countries such as the United Kingdom, Korea and the Czech Republic. In the U.S., the 401(k) retirement plan lets users save and invest as they go. Individuals generally save alone however employers can match or contribute a percentage of an employee's salary.
(Read more: Pandemic of pension woes is plaguing the nation)
The report highlights the increased onus on the individual to make retirement provisions. Governments are increasingly squeezed, with debt, inflation and fiscal policies creating risks that could profoundly affect the financial security of retirees worldwide. On top of this they also faced a growing aging population.
"Investors need to plan to do more on their own," said said Hervé Guinamant, President and CEO for International Distribution at Natixis Global Asset Management. "And the asset management industry must adapt by providing the tools investors need to build portfolios that put risk first, minimize volatility and help meet their long-term savings goals."
Follow us on Twitter: