How much of your paycheck would a pension replace in retirement?
Depending on the country, the answer ranges from more than 80% to less than 20%.
This graphic, via Visual Capitalist's Dorothy Neufeld, ranks countries by their projected gross pension replacement rate, based on data from the OECD. The rate compares pension benefits with pre-retirement earnings, with both measured before taxes and contributions.
Estimates are for an average earner entering the workforce at age 22 in 2024 and include mandatory public and private pensions, but exclude voluntary private retirement savings.
Spain Leads the Ranking
Southern European countries dominate the top of the ranking, with Spain, Greece, Portugal, and Italy all placing in the top 10. Spain and Greece stand out at 80.4% and 79.6%, respectively.
Rank Country Pension Replacement Rate 1 🇪🇸 Spain 80.4% 2 🇬🇷 Greece 79.6% 3 🇱🇺 Luxembourg 75.6% 4 🇨🇴 Colombia 74.8% 5 🇳🇱 Netherlands 74.7% 6 🇦🇹 Austria 74.1% 7 🇩🇰 Denmark 72.7% 8 🇵🇹 Portugal 72.4% 9 🇮🇹 Italy 70.6% 10 🇲🇽 Mexico 69.6% 11 🇹🇷 Türkiye 69.1% 12 🇨🇷 Costa Rica 65.7% 13 🇸🇪 Sweden 63.7% 14 🇸🇰 Slovakia 58.0% 15 🇫🇮 Finland 57.8% 16 🇫🇷 France 56.6% 17 ðŸ‡ðŸ‡º Hungary 51.9% 18 🇨🇱 Ch
