albion:
truckyboy:
.When you look at other countries pensioners, they live very well, can afford a car, and trips abroad, but we have a pension system thats way below what others get..
I forget which way round it is, but Germany and France have a 6.7 and 7.6 million euro deficit on their pension plans. They face the same problems as the UK.
A cheery little report
theconversation.com/huge-pensio … ting-88420
The net effect is that the pension industries in many countries are in a bad way. According to a Citibank report from 2016, the 20 largest OECD countries alone have a US$78 trillion shortfall in funding pay-as-you-go and defined benefit public pensions’ obligations. This shortfall is far from trivial. It is equivalent to about 1.8 times the value of these countries’ collective national debt.
Do you mean million or should it be billion? A few million isn’t a big thing to countries the size of those but billions would be