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Tuesday, July 17, 2018

Comparative Charts About Greek Pensions

I came across the below selected charts in a paper by the Austrian think-tank Agenda Austria where they analyze Austrian pensions. They come to the conclusion that Austria should switch to the Swedish pension model (both, higher pensions and lower contributions than at present). Perhaps someone will some time compare the Greek pension system to the Swedish model. The source of the graphs is the OECD:

1. Actual vs. Legal Retirement Age

The dots show the legal retirement age and the bars the actual one. For men, the legal retirement age in Greece is 65, the actual is about 3 years below that. That puts Greece roughly in the middle of the group. Interestingly, for women, the legal and actual retirement ages are identical at 60.




2. Contribution Rates

Here, too, Greece is in the middle of the group with 20% of gross salaries. One wonders how there can be such huge differences among pension systems (33% in Italy, 16% in Belgium).



3. Pension Gap

The table shows pensions as a percentage of the former gross income. Here, too, Greece is in the middle of the group with a rate of 70%. I am highly suspicious of the chart because the 90% for Austria seems far from reality and the 101% for the Netherlands seem unreal.

4 comments:

  1. " For men, the legal retirement age in Greece is 65, the actual is about 3 years below that. "

    The statistics you present, is weird at best. The legal retirement age in Greece since 2016 (law 4387/2016), is 67. I don't know about the rest, but judging from that, which is the easiest to know, i 'd take everything with a grain of salt.

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  2. Hmmmm...
    Austrian think-tank Agenda Austria...
    "Denkfabrik der Millionäre - Firmen und reiche Private leisten sich ein liberales Institut"
    https://kurier.at/meinung/kolumnen/wirtschaft-von-innen/agenda-austria-denkfabrik-der-millionaere/2.880.795

    A totally unacceptable opportunistic private bullshit!
    When bullshit leads to truth...
    None gives a fucking damn about them!

    ReplyDelete
  3. "Switch to Swedish Model"
    https://www.agenda-austria.at/en/graphics/not-the-retiring-type/

    Arbeit mach frei...

    ReplyDelete
  4. http://www.macropolis.gr/?i=portal.en.features.7113
    A very good presentation about pension reforms throughout and before the crisis years

    ReplyDelete