Countries Spending Most on the Elderly

The US doesn't make the top 10 list, and France is No. 1

By Ashley Allen, Newser User

Posted Mar 18, 2011 8:33 AM CDT Posted Mar 18, 2011 8:33 AM CDT
Promoted on Newser Mar 18, 2011 4:54 PM CDT

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Countries Spending The Most On The Elderly — An elderly survivor of the Japan earthquake reads newspaper coverage. Japan will be among the countries spending the most on the elderly in coming years. (AP)

One of the biggest fiscal issues many developed and developing nations will soon face is the enormous amounts of money it will take to support the elderly, according to a recent study by Standard and Poor's. These costs will be an even greater problem as most of the analyzed countries have growing debt-to-GDP ratios. 24/7 Wall Street lists the 10 countries where old age will cost the most:

Greece (No. 10): The Greek sovereign debt crisis was caused by overspending on things such as care for the elderly and a low GDP as a percentage of net debt. These factors are expected to get worse.
Japan (No. 9): Japan’s greatest cost incurred from the elderly is pensions, which make up 10.3% of GDP. Pension costs will be passed by health care costs as the leading expenditure by 2050. (Click to read about how the quake has hit the elderly especially hard.)

Click to read the full list, with France at No. 1. (The US isn't on it.)

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