| Abstrakt: |
Because the value of these income streams is strongly influenced by how long the pensions are received, raising the French pension age by two years would cut the value of French pension wealth by around 8%. Calculating the value of the future pension income streams using life expectancies, the net pension wealth of French retirees amounts to 14 years of average earnings, compared to just over seven in Australia. In part, this is because France has an older population than Australia, but it is also because French pension payments are more generous than both Australia's age pension and superannuation supports taken together. [Extracted from the article] |
