This page will feature issues about retirement around the globe, because, believe it or not, we in the United States can learn from what other countries are doing.  After all, while we take it for granted that Social Security is too much of an embedded entitlement to make any changes without a deep and immediate financial crisis, countries around the world have been implementing changes — and no, not just the austerity-fueled cuts in Greece, but places like Norway, Sweden, the UK, and Australia have made significant changes in their systems.

Key information sources:

Social Security Programs Throughout the World, published by the Social Security Administration in collaboration with the International Social Security Association.  These are descriptions of the Social Security programs provided worldwide.

Pensions At a Glance, published by the OECD.  The link goes to their home page for all public pensions information, at which you can download the full publication or go to statistics, or even a pension calculator.

Other sources:

OECD Taxation of Household Savings (2018).

Tax summaries:  from PWC

Additional sites:

Pension and Investments – news articles, primarily on the investment side

Related Jane the Actuary blog posts:

On the Canadian Pension Plan

On Scandinavian systems

Should Retirement Savings Be Mandatory?  It’s Complicated.


3 thoughts on “International Retirement Issues

  1. Hello,
    I am 58 years old, been working since 16, paying taxes, paying my dues. I have 24 years of contribution into the Teamsters Central States, Southeast and Southwest Areas Pension Fund, which is woefully underfunded. I am one of the 400,000 participants who either contributed, or our employer contributed, every payday in good faith with the thought that this would be contributing to our retirement. I am not looking for blame, I am not claiming to know what happened to the money. I am simply looking for a sign that someone is going to help with this huge problem. I am one of 400,000 hard-working Americans who do not know what their retirement plan is worth. How can we turn our heads and hearts away from this? Are we (members) supposed to work until we die to keep a living wage coming into our homes? After contributing for all those years into our pension? I do not believe this can be left alone, I believe this needs government assistance to pull it out, to bail it out if you will, just like the banks and auto makers were helped in times of trouble. Please! Do not leave us stranded!

    1. My husband is also in the Central States Pension Plan. He too has paid in every paycheck with the promise of a pension when he retires. He is now 62 years old, and is disabled due to working too many years for too many hours, and will not have a pension to help us through our old age.
      We were assured that the pension was insured, so did not worry over much.
      We feel cheated and betrayed by both the fund managers and the government insurance that was supposed to protect our interests.
      Something should be done to help the 400,000 members who are relying on their pensions.

  2. I am a contributing teamster for 33 yrs now and having a lot of stress issues over the failing fund!
    My major issue is that we negotiated a contract 7yrs ago and are company came to are union representative and told him they wanted out of the fund. They were willing to pay the 265 million unfunded liability. Are union rep made the decision on his own to turn them down! without bringing this to the members for a vote or educate us on the failing fund at the time. We could have been out of this bonfire but here I am telling you this story and still in the fund. And to boot are rep has a conflict if interest with being a trustee of central states.
    Anybody have any ideas what if anything we can do about this?

Leave a Reply

Your email address will not be published. Required fields are marked *