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The amount of pension in different countries

The amount of pension

The amount of pension: A citizen of any country in the world, reaching a certain age threshold, has the right to rely on the state to take care of him by accruing pensions, which in most democratic countries have long been considered an inalienable right of every person. The size of the pension in different countries depends on many factors, including:

The amount of pension in different countries

In addition, the retirement age for men and women depends on the state’s pension legislation.

Pension system of Russia

#pension. Speaking about Russia, at present women retire by age 55 and men by 60. However, since 2019, as a result of the pension reform, the retirement age is now 60 and 65 years, respectively.

  • The following pension may be assigned to certain categories of citizens:
  • By disability.
  • In connection with the loss of the breadwinner.
  • Based on length of service.
  • For a special distinction before the state.

Pension in Russia may be as follows:

  • insurance;
  • social;
  • funded.

An insurance pension is awarded, as a rule, due to old age, in the presence of disability or in case of loss of the breadwinner for any reason. Those citizens who cannot confirm the existence of seniority, as well as members of their families, can count on a social pension.

Citizens of the Russian Federation who were born no earlier than 1967 have the right to open a personal account for the accumulation of pension contributions during their seniority. Subsequently, the size of the so-called funded pension will depend on the amount of savings. In 2020, the following average pensions were established in Russia:

  • Insurance – 15,400 rubles.
  • Disability – 11,400 rubles.
  • Social – 13,700 rubles.
  • For the disabled and war veterans – 46,000 rubles.

The amount of pension in different countries. Germany

#pension. The level of development of the state depends, among other things, on the attitude towards pensioners. An example is the German pension system. A state with one of the most powerful economies in the world provides its citizens who have reached retirement age with all the conditions for a decent life.

The pension threshold established in the country is the same for men and women and is equal to 67 years.

Despite this, citizens of the country can retire without waiting for a similar age: this is possible if a pensioner pays out of personal savings a certain amount necessary to compensate for funds not received by the pension fund (about 0.3% of the available savings for each underperformed month).

It would be logical to assume that with the size of the pension in Germany everything is in order. On average, German pensioners receive € 1264 per month.

It should be said that, despite the reunification of the two Germanys that happened after the fall of the Berlin Wall, the difference in the development of the east and west of the country still exists. As a result, the average pension in East Germany is slightly lower and amounts to about € 961 per month.

While working at one of the German enterprises, a citizen of the country deducts about 20% of his earnings to the Pension Fund. Moreover, half of the amount of deductions is charged directly from the employee, the second half is paid by the employer.

Every German has the opportunity to resort to the services of one of the insurance companies in order to independently determine the size of pension payments and the accumulation of pension amounts.

In order to rely on an insurance pension, a German citizen must work at least 5 years at one of the country’s enterprises. Subject to certain conditions, a pension in Germany can also be accrued to foreigners.

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The amount of pension in different countries. USA

#pension. In the US, men retire at 67, women at 65 and receive an average of $ 1,100–1200 per month. One of the features of the American pension system is the ability to accumulate the necessary pension amount, having worked for 10 years in one of the country’s companies.

Many of the citizens manage to collect savings for two or even three pensions during the course of their employment.

If an American wishes to retire earlier than the due date, for example, at 62 years of age (early retirement age in the States), he will have to submit a corresponding request indicating the reasons that prompted him to take this step.

At the same time, an early pensioner should be prepared for the fact that the size of the pension will be 70% of the amount that he would receive when he retired at 67, and there will be no possibility of reaching 100% in the future.

  • When working at a company, an American, as a rule, in addition to contributions to the state pension fund, has the opportunity to accumulate savings for his future pension in an additional PF, which is available in most large companies and corporations.

The amount of contributions to the state fund is about 15% of the salary, half of which is paid by the employee himself, and the other half by the enterprise. After reaching retirement age, about 30% of American citizens continue to work.

The amount of pension in different countries. Great Britain

#pension. Among experts, it is believed that the UK pension system is close to perfection. As in most other countries, pensions in the kingdom can be public, private or long-term. Men go on well-deserved rest at 65 years old, women – at 60-65 years old.

If a British pensioner continues to work after reaching this age, then for each worked year there is a pension supplement.

On average, a citizen who retires before April 6, 2016, can count on 119.3 pounds per week. If the retirement took place after the specified date, the amount of payments will be equal to an average of 155.65 pounds per week.

To obtain the right to a basic pension, a king should work for at least 10 years in the country: at the same time, each worked year increases the size of the future pension by 4.44 pounds per week. Thus, the minimum basic pension will be equal to 44.4 pounds per week.

If the Briton chose to accumulate the pension amount in one of the private financial institutions, he can independently determine the amount of payments, no restrictions are set.

  • Employees usually contribute 5–8% of earnings to such accumulation funds: in accordance with the latest changes in legislation, now, if necessary, you can withdraw a quarter of the amount accumulated in this way without paying taxes.

Some British people take such a step, for example, in order to improve their living conditions.

More than substantial allowances for pensions are provided in the UK for World War II veterans: depending on the military rank or the severity of the injuries received, such a pensioner can receive, in terms of Russian currency, from 150 to 650 thousand rubles a month.

Of course, in the presence of such passive income, a British pensioner may well devote his autumn to travel, all sorts of hobbies, and the implementation of projects for which there was not enough time in his youth.#pension

The amount of pension in different countries. China

#pension. Perhaps the main feature of China’s pension system can be considered the absence of payments to agricultural workers.

This situation is familiar to Soviet citizens: until the 60s of the last century, collective farmers in the USSR were not officially paid a pension, a small allowance was paid by a collective farm or state farm. Managers, civil servants and industrial workers can rely on pension payments in China.#pension

For Chinese men, the retirement age reaches 60 years, for women managers – at 55 years, for the rest of the fairer sex – at 50.

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In general, despite the unprecedented economic growth that China has shown over the past three decades, most of the issues related to the provision of pensions for its citizens remain unresolved.#pension

Today, with the naked eye, one can see how China’s positions in most world ratings do not fit together, reflecting the general state of the economy with the size of the pension for the citizens of the Middle Kingdom. #pension

The average pension in China today barely reaches 80 USD.

During the course of his work, a Chinese worker deducts 11% of his salary to the state pension fund: 4% is automatically charged when calculating wages, and 7% is paid by the employer.#pension

The size of the pension is about 20% of the average wage. To earn the right to receive the so-called basic pension, you must work for 15 years or more at a state-owned enterprise.

  • One of the explanations for such a low level of pensions in China can be considered the presence of a large number of citizens whose age has exceeded 65 years.

This situation was the result of fertility restrictions that existed until recently. The Chinese nation is now recognized as aging: the number of pensioners in the country exceeds the total number of people in Russia. Economists say that about 40% of the country’s budget is spent on pension payments.#pension

The amount of pension in different countries. Japan

#pension. The average size of the Japanese pension, which is today about 900 USD, allows pensioners of the Land of the Rising Sun not to experience financial difficulties and feel quite comfortable.

This money is quite enough for food and utility bills, and it remains to spend leisure time, which, however, at that age is quite moderate in relation to expenses.

#pension. The Japanese can go on a well-deserved rest at the age of 65, this applies to both men and women. However, if a citizen of a country expresses a desire to retire earlier, the laws of the state allow him to do this: you can stop active work at age 60, but the size of the pension will decrease by 25%.#pension

If the Japanese continues to work after the retirement age, each worked year adds a certain amount to the pension payments, and by 70 years, the pension may increase by a quarter.#pension

According to statistics, the Japanese are the longest-lived nation in the world. The number of citizens who overcame a century old exceeds 60 thousand people, the average life expectancy is 84 years.

#pension. Experts believe that to achieve such years, the Japanese are helped by proper nutrition: in the diet of the inhabitants of the Land of the Rising Sun, rice, soy, and seafood predominate. In addition, retiring, the Japanese continues to lead an extremely active lifestyle. Japanese retirees can be seen anywhere in the world as restless tourists.

The vast majority of Japanese old people do the so-called morning gymnastics “on the radio”, Japanese people try to prefer walking by car when they are walking.#pension

In addition, the country has a health system, recognized by many experts as the best in the world. After 60 years, every Japanese regularly undergoes a medical examination, keeping his hand on the pulse in the literal and figurative sense.

The amount of pension in different countries. Denmark

#pension. Considering the topic of pension provision for citizens in different countries of the world, one cannot but mention Denmark – the country with the highest pension in the world today.

On average, a Danish pensioner receives $ 2,800 a month, and this is not a joke. It can be difficult for a Russian pensioner to understand how this is possible.#pension

The average life expectancy in Denmark today is 80 years, while the Danes retire at 65–67 years.

The priority direction of state policy today is to create the most favorable conditions for the lives of people of retirement age, which is why many people call Denmark a paradise for pensioners. Often, a pensioner in a country feels better off than a working person.

#pension. In addition to a more than decent state pension, Danes often have savings in private pension funds, as a result of which the pensioner’s income can be even higher.#pension

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Such a strategy of the state is aimed, among other things, at ensuring that a pensioner remains independent and competent as long as possible, since the maintenance of elderly people in nursing homes is carried out at the expense of state funds.

In order to provide additional support to the country’s pensioners, a branch of the DanAge public organization was created at each Danish municipality.

The amount of pension in different countries. France

#pension

As in most EU countries, French retirees go on vacation at 65 (women) or at 67 years old (men). The French live an average of about 80 years, and the average pension in the country is about 1000 euros.

The French pension system is part of the general social insurance system, which is recognized by experts as one of the most complex and multifaceted in the world.#pension

#pension. The flip side of the complexity of pension rules is the ability to protect themselves from the most unexpected situations and provide the most favorable way to receive pension payments. #pension

In other words, a French pensioner can count on the fact that he will receive a pension individually on the basis of his circumstances. At the same time, not a single nuance related to the size of pension payments (for example, disability received at the workplace, work in harmful conditions, etc.) will be ignored.#pension

#pension. According to the laws of the country, an employee applying for a maximum pension must work at French enterprises for 40 years or more. Subsequently, the 25 highest paid years out of these forty will be taken into account in determining the size of the pension.#pension

In addition to the base, in France there is the so-called funded pension, accrued in a special way using a special point system.

As a result, the retired Frenchman receives monthly payments in the amount of half the salary plus a certain amount of insurance savings.

#pension. If a citizen of a country has worked for his life, for example, 41.5 years (or 166 quarters), he can claim 100% pension payments. Each quarter that was not completed before this deadline reduces the amount of payments by 1.25%.

It should be borne in mind that if the seniority was interrupted due to unemployment or pregnancy (up to six months), then this time is taken into account when calculating the pension. #The amount of pension in different countries

  • #pension. Union of australia 1 396 Australian dollars 933$
  • Austria 2,269 euros 2480$
  • Azerbaijan 300 Azerbaijani manats 176$
  • Argentina 4,804 pesos 79$
  • Belarus 432 Belarusian rubles 197$
  • Bulgaria 577 leva 323$
  • Brazil 1250 Brazilian reals 700$
  • #pension. Great Britain 640 pounds 828$
  • Hungary 129,800 forints 420$
  • Germany 1264 euro 1382$
  • Greece 697 euro 761$
  • Denmark 2 800 euro 3,060$
  • #pension. Israel 4,236 shekels 1,350$
  • Iran 80,250 Iranian rials 192$
  • Ireland 743 euro 810$
  • Spain 908 euro 991$
  • Italy 1,140 euros 1,244$
  • Kazakhstan 86 000 tenge 226$
  • Canada 1,417 Canadian dollars 1066$
  • #pension. Cyprus 740 euro 807$
  • Korea 1,902,384 Korean won 1,600$
  • Kuwait 906 Kuwaiti dinars 2 980$
  • Lithuania 374 euro 408$
  • Mexico 18,000 Mexican Pesos 1,000$
  • Netherlands 1,300 euros 1,418$
  • #pension. New Zealand 602 New Zealand dollars 385$
  • Norway 14,667 NOK 1,584$
  • United Arab Emirates 10,200 dirhams 2,776$
  • Poland 2,100 zł 538$
  • Portugal 550 euro 600$
  • Romania 828 lei 190$
  • Russia 15 431 rubles 242$
  • #pension. Singapore 600 Singapore dollars 431$
  • Slovakia 460 euro 502$
  • USA 1,150 dollars 1,150$
  • Turkish Republic 8,000 Turkish Liras 1329$
  • Finland 1,632 euros 1,781$
  • France 1000 euros 1 091$
  • #pension. Croatia 2500 kuna 366 Czech 900 CZK 109$
  • Switzerland 2,000 francs 2,046$
  • Sweden 1 697 euro 1 852$
  • Estonia 483 euro 527$
  • #pension. Japan 150,000 Japanese yen 1,366$

#pension. The list of countries where there are no old-age pensions:

  1. Vietnam.
  2. Honduras.
  3. India.
  4. Iraq.
  5. People’s Republic of China.
  6. Nigeria.
  7. Pakistan.
  8. Thailand.
  9. Tanzania.
  10. Philippines.

The amount of pension in different countries

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