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All You Need To Know About the World’s Social Security Systems
October 15, 2014
What Legislators Spend on Themselves
October 17, 2014
We have bad news and good news about being elderly in the United States.
First the bad news…
Evaluated for the adequacy, sustainability and integrity of its old age pension system (primarily Social Security), the U.S. got a “C.” Its rank was #13 in a list of 25 countries, Denmark was #1 and India, #25.
Below are all the grades;
From: Melbourne Mercer Global Pension Index 2014
But the good news is that the U.S. received a high rating in a 2014 Global AgeWatch report on the “wellbeing of the elderly.”
Ranked #8 out of 96 countries (below), it had especially high grades for an elderly friendly environment that was safe, socially-connected and supported self-esteem.
The Top Ten Countries For Growing Old:
From: Global AgeWatch Index 2014
The four criteria are defined below. Somewhat ironically, as a source of self-esteem and self-sufficiency, employment is a plus.
From: Global AgeWatch Index 2014
Our Bottom Line: GDP Growth Rate
While I do want to reiterate my skepticism about the objectivity of ranking — still, some threads are evident. Elderly well-being and a high GDP correlate. We can continue to ask, though, about the impact that a growing proportion of the elderly population will have on the GDP growth rate. In dollar and non-dollar tradeoffs, the cost of elderly well-being can be high.
