Emigrate to Australia in retirement
21 July 2016 by News DeskWhen you emigrate to Australia you want to know you’ll be secure in your old age.
Now your emigrate to Australia plans can be underpinned with greater confidence after the country was ranked among the top ten countries in the world for security in retirement.
Many countries now insist that employers make pension provision for their workers, with employer contributions ranging from two per cent to almost ten per cent.
In Australia, ranked sixth in the world for retirement security, employers must contribute at least 9.5 per cent of a worker’s salary into a private pension fund.
Emigrate to Australia in retirement
The top countries in the world for retirement security are Norway, Switzerland, Iceland, New Zealand, Sweden, Australia, Germany, the Netherlands, Austria, and Canada.
Lowest-ranking countries for retirement security are India, Greece, Brazil, Russia, Turkey, China, Spain, Cyprus, Mexico and Portugal.
“If you are planning to emigrate to Australia a pension or retirement plan is essential,” says Darrell Todd, founder of thinkingaustralia.
“For one to one help and advice about pension provision in Australia, contact us today”.
A recent global retirement index measured 43 nations on income inequality, financial stability and happiness.
The new report by Natixis Global Asset Management identifies four major trends that affect retirement security.
1. Access: An aging workforce and increased life spans in many Western countries have made traditional pay-as-you-go models for government retirement benefits unsustainable. As individuals assume greater responsibility for their retirement funding, public policy makers in leading countries must ensure that workers have access to individual or work-based savings programs.
2. Incentives: Smart policy expands incentives for individuals to save for retirement in order to help reduce the long-term challenges in providing support for retirees. Favorable tax treatment for retirement savings helps workers put away more money, making it more likely they can take care of their own needs.
3. Engagement: Automatic enrolment in workplace retirement plans is a step in the right direction. Good policy also may ensure that workers have the right balance of investments and enough information to help them maximize the benefits of plan participation.
4. Economics: Retirement security extends beyond the savings vehicles themselves. It includes consideration for an aging population that will be living on a fixed income. Monetary, fiscal and healthcare policies all play roles in ensuring that retirees are self-sufficient
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