rescueme
Thinks s/he gets paid by the post
I expect this to be "Porkied" early on, but it is an interesting read for those at/near retirement, of the challanges that other countries are facing.
Here's a quote from the article on USA Today:
The USA guarantees average workers around 39% of their wages in retirement; in Italy, that number had been nearly 65%, and in Greece, 95%. Those rates have recently been slashed to curtail deficit spending, in which Greece allots 12% of its GDP for pensions, and Italy, more than 14% -- the highest rate in the world according to OECD figures. By comparison, the USA spends 4.6% of its GDP on Social Security costs.
The full article at:
European pensions targeted
Here's a quote from the article on USA Today:
The USA guarantees average workers around 39% of their wages in retirement; in Italy, that number had been nearly 65%, and in Greece, 95%. Those rates have recently been slashed to curtail deficit spending, in which Greece allots 12% of its GDP for pensions, and Italy, more than 14% -- the highest rate in the world according to OECD figures. By comparison, the USA spends 4.6% of its GDP on Social Security costs.
The full article at:
European pensions targeted