A senior couple sit on a bench above fog hanging in the
valley of Hochwacht mountain above Zug in central
Switzerland on Nov. 20, 2012 .(Getty Images)
Despite Switzerland's notoriously high cost of living, retirees have it sweet.
That's because the practical and efficient Swiss have developed a pension program that allows retirees to build up a healthy nest egg to maintain a comfortable standard of living as they grow older.
The pension program helps explain why Swiss seniors — about 24% of the country's population — enjoy the world’s best retirement, according to a new Global AgeWatch Index that rates the quality of life of older citizens in 96 countries.
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One typical retiree, Christiane Blattner, 68, worked 44 years as an administrative assistant until she retired in 2011. Blattner receives $5,000 a month in social security and pension benefits — enough to live comfortably in a two-bedroom apartment she owns in a small town near Geneva.
Her monthly income is nearly double that of American retirees with multiple retirement income. They average $2,640 a month, according to a recent AARP Public Policy Institute analysis.
“I am certainly not wealthy, but I can afford all the necessities and even occasional luxuries,” Blattner said.Read the rest of the story HERE.
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