Question

How well Americans do in retirement and time off compared to retirees of other advanced industrial countries?

Answer 1

Americans in comparison to the other Industrial countries does not stand much forward in terms of providing retirement benefits and paid time off. The social security program of America has been declared ineffective and the the retirement savings are also observed to be inadequate than those offerred by the other Industrial countries. The social Security benefits in USA are reported to be only 41% of the earnings of an employee while as in Netherlands it amounts to almost 9% and in Austria it amounts to 60%.

America has been found to be weaker in terms of private retirement protection and benefits which has increased the economic vulnerability of its older employees. Retirees in USA found themselves more dependent on social security program which inturn does not prove to be much effective to protect them and their rights.

However irrespective of this staggering retirement position with respect to advanced economies,,, an average retiree in USA still earns upto the 92% of average income in America which decently outpaces the retirement offered by countries such s Germany or belgium whose earnings per retirement range from 76-87 %

But America alone stands the country with advanced economy which has no guaranteed paid vacation benefits or paid sick leave. The average vacation time offered to employee in US amounts to only 15 days in US which even does not meet the minimum amount required to be maintained by law while exceefs to a month or more in other countries.

Therefore America does not go very well with the retirement and time off in comparison to advanced countries such as UK, China, Korea, UAE etc.

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