A new chart from the Organization for Economic Cooperation and Development highlights how meager retirement benefits are in America. As compared to 33 other countries, the United States ranks 27th, almost at the bottom, near Mexico, Slovenia and Korea. In short, comparatively, Americans have stingy Social Security retirement benefits.
To be clear, the OECD chart illustrates that Social Security only replaces about 40 percent of the typical worker’s pre-retirement earnings. According to Alicia Munnell, Director of the Center for Retirement Research at Boston College, the OECD confirms that “the U.S. provides some of the lowest benefits in the developed world.”