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24/7 Wall St.: 10 Countries Paying People to Retire

3. Spain

Pension Replacement Rate: 81.2%
Male/Female Retirement Age: 65/65
Male/Female Life Expectancy: 83/86.1
Sovereign Debt as percentage of GDP: 51.7%
Employment Rate: 58.4%

Despite Spain’s significant economic woes, the country manages to pay out a sizable pension to employees. Spain’s pension pays 81.2% of the salary for those making the median income, half the median income and one-and-a-half times the median income. While the retirement age is higher than in many of the countries on the list, men are expected to live 18 years after retirement age, while women are expected to live more than 21 years following retirement, leading to a sizeable government payout. This comes as Spain has been severely hampered by unemployment. More than 9% of those between ages 15-64 have been looking for a job for more than a year, more than any other country measured by the OECD.
(Istock)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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