A huge aspect of your personal finances is planning for retirement. While it seems like an age away, you should focus on this from the moment you get a job. If you’re able to contribute towards a retirement plan from the age of 18 through to retirement, you can potentially save hundreds of thousands of dollars. 

With that in mind, it’s interesting to consider which countries have the best retirement plans. Who knows, it could be a smart idea to spend some time working in a foreign country, just so you can reap the rewards of a great pension system. We’ve done the research and discovered that these are your top three countries for retirement savings: 

Netherlands

The Netherlands has long been associated with great benefits and legislations that support workers. So, it’s no surprise that this country is right at the top of the list of best countries for retirement plans. People here get a standard public pension plus an occupational pension. The cool thing about the occupational pension is that earnings are based on a lifetime average. This means you can earn a significant amount of money in retirement – and the government also improves the value of your fund if you reduce household debt over time! 

Denmark

Again, it’s probably no surprise that Denmark is in this conversation as the country is renowned for its pro-workers policies. If you check most lists for the best places to live, this country will be on it. Crime rates are low, employment satisfaction is high – and it offers three main retirement savings options. There’s a public pension scheme, a supplementary pension benefit linked to your income and a contribution plan provided by employers. Put simply, Denmark offers multiple ways for you to get your finances in order, making it super easy to save for retirement and generate lots of additional future income. 

Australia

Down Under, residents get a public pension program plus a mandatory savings system to help people plan for retirement. On top of this, employers may also offer super funds that allow employees to save even more money. Then, you come across self-managed super funds, which are basically private pensions giving you more control over your money and where it can be invested for larger lifetime savings. These are very diverse and some companies even offer a crypto SMSF nowadays. The level of diversity and the sheer number of options available make this a great place to claim retirement benefits. 

If you truly want to amass the most retirement savings, you may have to look elsewhere for better pension plans. Compare countries from around the world to see if you’ll benefit from moving abroad for a while. Of course, be sure you meet all the eligibility requirements while abroad, so you can actually claim the pensions or retirement plans. There are many people who spend time in one country and can get the public and work pensions there, and then go to another country to do the same. It’s a genius way of getting money from multiple pension plans!