Pension System Failing? 15 OCED countries where poverty is most prevalent in retirees

For some of the OCED countries listed, their developing pension system was stated as the reasons for the high rate of poverty.

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15 OCED countries where poverty is most prevalent in retirees play

15 OCED countries where poverty is most prevalent in retirees

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The list seem surprising as some giant economies are significantly ranked among the top 7. With the recent continuous awareness on investment and various pension reforms, I find it surprising that 12.6% of people above 65 in OCED (Organisation for Economic Co-operation and Development) countries are living in relative relative income poverty.

For some of the OCED countries listed, their developing pension system was stated as the reasons for the high rate of poverty.

According to the figures released by Forbes, find countries with the highest number of poverty in retirees from the most prevalant to the least prevalent in OCED countries below;

1. South Korea with 50% of its retirees living in Poverty.

2. Australia with 35.5% of its retirees living in poverty.

3. United States of America with 21.5% of its retirees living in poverty.

4. Japan with 19.4% of its retirees living in poverty.

5. Turkey with 18.4% of its retirees living in poverty.

6. United Kingdom with 13.4% of its retirees living in poverty.

7. Germany with 9.4% of its retirees living in poverty.

8. Italy with 9.3% of its retirees living in poverty.

9. Poland with 8.4% of its retirees living in poverty.

10. Ireland with 6.9% of the retirees living in poverty.

11. Greece with 6.9% of its retirees living in poverty

12. Spain with 6.8% of its retirees living in poverty.

13. Canada with 6.7% of its retirees living in poverty.

14. France with 3.8% of its retirees living in poverty.

15. Netherlands with 2.0% of its retirees living in poverty.

In a view, it is shocking that standard economies like South Korea, Australia and USA topping the list while, Netherlands, France and Canada are the least countries with high levels of poverty in retirees.

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