Publicly financed retirement, or pension benefits, vary widely across the world. But as the U.S. and Europe consider fiscal austerity measures to address debt problems, some pension programs could be subject to change.
To grasp what most recipients stand to lose, we’ve taken a look at the promised pension payouts of the ten largest economies in the world. (International Monetary Fund rankings.)
Our snapshot is based on a new study from the Organization of Economic Cooperation and Development, OECD, calculates pension wealth for 54 countries, adjusting for differences in retirement age, life expectancy, and average earnings.
Pension “wealth” is calculated as a multiple of average earnings. For example, the OECD average multiple across all member countries is seven. Thus, if the average earner takes home $40,000 per year, the pension wealth for that citizen, in one lump sum, would be $280,000. Countries with higher multiples have a greater pension wealth.
Whose retirees are being best looked-after by the state?
Click ahead to see how your pension plan stacks up against the world’s largest economies, starting with the U.S.
By Jennifer Leigh Parker
Posted 26 September 2011