Retirement wealth is widely dispersed across Europe, and has a much larger impact on living standards than pension income alone. In some nations, elderly households are 30 times wealthier than others, reflecting the way housing, pensions and family support may influence financial security in later life. So who are the richest people over 65 in the world?
In mid-year 2023, the European Central Bank published the Household Finance and Consumption Survey (HFCS), which gives comparative data on the wealth of elderly individuals.
Belgium and Ireland are the richest elderly households in the EU, excluding these two countries with the smallest population. In Belgium, the median net wealth of households aged 65-74 years is €307,700. Ireland is also around the €300,000 mark with €296,700.
France is fifth at €232,800, just behind Germany at €232,100. The median net wealth for this age group is €200,800 in Spain. In the four biggest economies of the EU, Italy has the lowest figure at €168,000, suggesting that persons at retirement age in France and Germany have nearly €60,000 more wealth than those in Italy.
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