Retirement is an important time for every worker. The city and country of residence will determine the lifestyle and living conditions that can be assumed when retiring as an active worker. The Audley Village study has analysed the retirement age, state pension schemes and health status of 37 Organisation for Economic Co-operation and Development (OECD) countries and their capital cities to show where in the world workers have the best conditions for retirement.
Spain tops the list of countries, largely because it has the second-longest retirement period, averaging 22 years, and one of the longest life expectancies, close to 84 years on average. “Spain is also among the top 10 states in terms of pensions, with an average pension equivalent to 83.4% of pre-retirement income. The country also has the highest level of health, an indicator that analyses health risks, availability of drinking water, malnutrition and causes of death,” the British company explains.
Behind Spain are countries such as Greece, Austria, Italy and Luxembourg, with average retirement ages below 63 years, and average life expectancy above 82 years. However, while in Italy and Luxembourg, and also in Austria, the replacement rate reaches 90%, in Spain it remains at 84% and in Greece, it only reaches 51%.
As far as capital cities are concerned, Madrid is confirmed as the capital (or leading city) with the best living conditions for retirees. According to the study, Madrid has almost 340,000 inhabitants over the age of 65, with an average retirement age of 22.3 years, one of the highest along with Paris (22.3 years), Athens (21.9 years), Rome (21.6 years), Luxembourg (21.9 years) and Brussels (21.1 years). The study also analyses the income that can be allocated to savings and even the average price per square metre of a property.
