🇪🇺 Ranked: Highest and Lowest Pensions in Europe

Key Takeaways

• Rich Western economies like Iceland, Luxembourg, and Norway can afford annual pensions north of €30,000 per retiree.
• Poland and Hungary spend a big slice of GDP on pensions, yet smaller tax bases keep payouts below €7,000.
• The seven-fold gap between Iceland and Hungary proves pension size tracks economic heft, not political will.

⚠️ Data Note

Eurostat no longer publishes comparative figures for the UK.

Southern Europe's Challenge

Mediterranean countries present a mixed picture.

Italy and Greece spend substantial portions of their GDP on pensions (10.6% and 11.6% respectively), yet their per-beneficiary amounts are moderate.

This suggests these systems support large retiree populations relative to their working-age demographics—a classic challenge of aging societies.