Why the United States Has One of the Weakest Retirement Systems
When it comes to retirement planning, the United States falls far behind its global counterparts. According to an article by Finance Buzz, nations that mix government pensions with private savings offer their senior citizens a healthy retirement. Analyzing adequacy, sustainability, and integrity, it came up with a list of the top 20 countries offering retirees the most secure and sustainable retirement plans. Not surprisingly, the United States was nowhere on this list.
Finance Buzz determined the top 20 countries with the best retirement systems to be: Kazakhstan, Germany, Portugal, New Zealand, Austria, Uruguay, Chile, Ireland, Canada, Switzerland, United Kingdom, Sweden, Norway, Singapore, Finland, Australia, Israel, Denmark, Iceland, and, taking the top spot, the Netherlands.
And in case you were wondering, the United States ranked No. 22.
The Seniors Trust is committed to improving the financial well-being of America’s retirees through the passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), and increased minimum benefits. This bill will also ensure the long-term solvency of the Social Security program – making sure it is available to all who need it now and in the future.
