Next Avenue: What these other countries could teach the U.S. about retirement

This article is reprinted by permission from NextAvenue.org.

Even in these deeply polarized times, you won’t get much pushback saying that America’s retirement system is flawed. Perhaps there are lessons we can learn from policy experiments and reforms in other countries? The answer is “Yes,” especially by looking to Australia, Great Britain, Israel and Norway — although with several critical cautions.

First, the cautions: Social security, pensions and retirement savings systems are unbelievably complicated. Also, easy comparisons across borders are difficult to make because retirement systems evolve over time, reflecting deep cultural norms, national institutions and political compromises. An attractive European pension design might be tough to transplant into the U.S.

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