Pension Replacement Rate: 64.5%
Male/Female Retirement Age: 59/59
Male/Female Life Expectancy:82/86.1
Sovereign Debt as percentage of GDP: 109%
Employment Rate: 56.9%
Italians can receive a cushy pension at quite an early age. At age 59, an employee making the median income — along with those making half and one-and-a-half times the median income — can begin receiving a pension paying out 64.5% of an individual’s salary. Considering that the average woman lives to the age of 86, that is a long pension payout. Italy is the only country except for Greece to hold more debt than its GDP. The country spends 15.3% of its GDP on public pensions, more than any other country in the OECD.
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