Best Countries To Grow Old In
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10 April 2024
Pensions are a unique and valuable type of retirement plan to help a person during old age
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Under the current rule, an employer makes contributions to a pool of funds and invests it on employee's behalf
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The earnings on said investments generate income that helps the worker upon retirement
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Different countries have different pension plans. Here's a look at the most generous among them
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The Netherlands is on top with a value of 82.6 on Mercer CFA Institute Global Pension Index
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The World Economic Forum said Dutch pensioners get 101% of their working wage when they retire
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Denmark came in a close second with an overall score of 81.4 on the index
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It has a public basic pension scheme, a supplementary pension benefit, a fully funded defined-contribution plan and mandatory occupational schemes
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Israel ranked third with an overall index value of 74.7. It has state pension as well as private pensions
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Australia is at number 4 with a score of 74.2 in the list of 39 countries
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The US had a score of 60.3, and its retirement income system includes Social Security and has voluntary private pensions
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WEF said India, Portugal and Italy also have very competitive pension rates
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