GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’re free to read more about oureditorial guidelinesand our products and servicesreview methodology.
20 YearsHelping You Live Richer
Reviewedby Experts
Trusted byMillions of Readers
Every country takes a different approach to retirement.
United States
The United States provides retirement benefits based on contributions to the retirement system.
To qualify for monthly benefits, an individual must contribute for at least 10 years.
China
Chinas pension system requires 15 years of contributions before residents can receive a benefit.
Contributions are equal to 8% of wages.
Malaysia
Malaysiasretirementsystem is set up in two tiers.
Funds earn interest at a minimum rate of 2.5%.
Japan
Japans retirement system also has two tiers: abasic, flat-rate pensionand an earnings-related plan.
To receive basic pension benefits, residents must makeat least 10 yearsof contributions.
Full benefits are available after 40 years of contributions.
Basic and earnings-related pensions are indexed to net wages until the pensioner turns 67.
It required workers to contribute 2% of their earnings.
Indonesia established an earnings-related plan in 2015.
Workers accrue benefits based on earnings and contributions, and the plan is indexed to prices.
Residents qualify for a pension after making at least 10 years of contributions.
Thailand
Thailands retirement scheme combines basic and earnings-related benefits.
All individuals who make at least 15 years of contributions are eligible.
Those who contribute longer to the system receive a bigger benefit.
The Philippines
The Philippines retirement system includes three components: basic, earnings-related and minimum pension.
The basic pension is a flat amount based oninflationand wage growth.
The earnings-related pension is calculated based on the workers average earnings.
There is no special benefit if an individual delays their pension past thestandard retirement age.
More From GOBankingRates
Share This Article:
