Countries With The Highest Levels Of Poverty For Retirees

Countries With The Highest Levels Of Poverty For Retirees

A recent report showed that 12.6 percent of people aged 65 and over in OECD countries are living in relative income poverty. That is defined as an income below half the national median equivalised household income. Older women are at greater risk of poverty than men with “the older old” (75 and older) falling on hard times more frequently than “the younger old” (aged 66-75).

Tom: The disturbing thing is that the money taken from wages in taxation that was supposed to fund our pension was not set aside by successive Australian governments, contrary to prudential bookkeeping standards. Companies are now fined for what the government has been doing for decades – taking people’s money for a future benefit and not setting it aside.

https://www.forbes.com/sites/niallmccarthy/2015/12/02/which-countries-have-the-highest-levels-of-poverty-for-pensioners-infographic/