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Here’s how other countries financially support their retirees | Market Watch

Here’s how other countries financially support their retirees | Market Watch

Governments around the world are worrying about their citizens’ retirement security — they just approach it differently.  Other countries have found successful ways to support their retirees such as having current workers pay for retiree benefits. Australia has a nationwide mandatory contribution plan that workers must follow to ensure they have enough saved to retire, and employees are responsible for contributing to assets of investment portfolios. China and Japan are struggling to have enough workers to support retirees, but are looking into contribution plans as well. Brazil is implementing a set retirement age to make their system more sustainable. The US is currently in need of some reform to its Social Security System to ensure retirees don’t solely rely on social security for savings.

Source: https://www.marketwatch.com

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