Pensions fall short of retiree spending in most countries

Pension amount before taxes, compared to average annual spending

Map shows the difference between average annual spending and gross pensions. Spending reflects estimated average annual consumption for people aged 60+, based on their spending habits in 2005, 2010, 2015, and 2020. Spending in those years was adjusted to 2023 prices using category-level inflation and then averaged; pensions show average gross public old-age pensions per beneficiary. See full methodology for sources and calculations. Data is unavailable for countries in gray, except Turkey, which is excluded from the study due to its high inflation in recent years.
Chart: DataPulse Research Created with Datawrapper