Europe's 5 most generous pension systems
The strikes roiling France right now are about government plans to raise the retirement age from 60 to 62 and the pension age, which determines when people can begin accessing their pension funds, from 65 to 67. France is not the only country facing a budget crunch partially because of its generous pension system. Here are five examples.
In Denmark, the average earner receives 98.7 percent of his average net income (after taxes) back. People become eligible for their pensions at 65, but that number is poised to be raised gradually to 67 by 2027. Danes are are eligible for a full pension after 40 years of residency (payments are proportionally reduced for shorter periods of residency). That comes out to DKK 330,900 a month (about $55,700 a year), or about 17.5 percent of average earnings. Pension spending is about 5.4 percent of annual GDP.