- Pension Replacement Rate: 64.5%
- Male/Female Retirement Age: 59/59
- Male/Female Life Expectancy: 82/86.1
- Sovereign Debt as percentage of GDP: 109%
- Employment Rate: 56.9%
Italians can receive a cushy pension at quite an early age. At age 59, an employee making the median income — along with those making half and one-and-a-half times the median income — can begin receiving a pension
paying out 64.5% of an individual’s salary. Considering that the average woman lives to the age of 86, that is a long pension payout. Italy is the only country except for Greece to hold more debt than its GDP. The country spends 15.3% of its GDP on public pensions, more than any other country in the OECD.