Top 10 retirement systems worldwide

[Meadbh]

Top 10 Countries With Best Retirement Systems

I must admit I am surprised to find Brazil, but not Germany.

Here is the link to the full report:

http://www.globalpensionindex.com/pdf/melbourne-mercer-global-pension-index-report-2011.pdf

 

[Alan]

When we visited Australia in 1989 we spent a few days in Sidney and I talked to a guy staying in the same lodgings as us. He told us he was working on a project to re-vamp the Australian pension system and they had been looking at other countries including the USA. The idea of course was to come up with the best of the best.

So I was interested that Australia was listed as #2 in this report by Mercer. Unfortunately I can't remember who he worked for. Mercer perhaps?

 

[foxfirev5]

That's nice. I don't see any revampiing of our retirement system. I'm a little distraught about the number of people who haven't realized this and haven't saved or invested. However, I don't think I'll move to optimize my retirement.

 

[Ed_The_Gypsy]

That's nice. I don't see any revampiing of our retirement system. I'm a little distraught about the number of people who haven't realized this and haven't saved or invested. However, I don't think I'll move to optimize my retirement.

It got revamped while you weren't looking. They took it apart and didn't put it back together.

 

[W2R]

For those who don't want to click through the listings, the top 10 are:

1. The Netherlands
2. Australia
3. Switzerland
4. Sweden
5. Canada
6. United Kingdom
7. Chile
8. Poland
9. Brazil
10. United States

Personally, I'm rather fond of #10, warts and all - - but you all knew that!

 

[ziggy29]

I don't see any revampiing of our retirement system. I'm a little distraught about the number of people who haven't realized this and haven't saved or invested.

I think a lot of people realize it. They just sweep it under the rug; they bury their heads in the sand.

When we have no pensions, a flatlining 401K, wages that have gone nowhere despite inflation that feels much higher than the CPI reports and a health care disaster, for most folks retirement savings aren't really easy to come by.

 

[Tiger]

The requirement for retiring to Australia include tansferring US$500,000 to Austrailia, US$50,000 annual income + you have to buy US$500,000 in government bonds. You are not covered by any government paid health plans and must pay for your own.

 

[jebmke]

The requirement for retiring to Australia include tansferring US$500,000 to Austrailia, US$50,000 annual income + you have to buy US$500,000 in government bonds. You are not covered by any government paid health plans and must pay for your own.

Isn't Canada something similar -- maybe different amount but basically a compensating balance in local funds?

 

[Focus]

Isn't Canada something similar -- maybe different amount but basically a compensating balance in local funds?

Darn. I was so hoping to move up to No. 5.

 

[DeborahB]

The requirement for retiring to Australia include tansferring US$500,000 to Austrailia, US$50,000 annual income + you have to buy US$500,000 in government bonds. You are not covered by any government paid health plans and must pay for your own.

Whoa, that's per person? I guess I'll stay here. Maybe just visit periodically.

 

[DangerMouse]

The requirement for retiring to Australia include tansferring US$500,000 to Austrailia, US$50,000 annual income + you have to buy US$500,000 in government bonds. You are not covered by any government paid health plans and must pay for your own.

But the big difference is what you will pay for your private health coverage.

Health Insurance - Health Cover - Health Fund - Bupa

Run the numbers on the calculator on the above website and you will see a significant difference in price in Oz vs getting it on the free market in the US.

Also you might want to check interest rates in Oz, not sure if you earn on the $500k the govt holds, but any cash holdings can easily be earning 6% with no real risk attached.

 

[brett]

The Canadian system was not well positioned or well funded.

In the late 90's the then Governement reviewed the funding model and the investment model. The bottom line was make significant changes or face catastrophic funding challenges in the future.

Changes were made (unpopular at the time) to the funding model and to the investment model.

I think it takes a very strong, determined Govenment to deal with this. The tendency of most politicians seems to be to sweep the issue under the carpet and leave the hot potato to a successive Government.

The plan in Canada is much improved but it needs a regular review-especially now given what appears to be a potential long term decrease in investment returns. I just looked at my contribution levels. As a percentage they doubled between the mid nineties and the early 2000's.