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Europe's 5 most generous pension systems

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3. Denmark

In Denmark, the average earner receives 98.7 percent of his average net income (after taxes) back. People become eligible for their pensions at 65, but that number is poised to be raised gradually to 67 by 2027. Danes are are eligible for a full pension after 40 years of residency (payments are proportionally reduced for shorter periods of residency). That comes out to DKK 330,900 a month (about $55,700 a year), or about 17.5 percent of average earnings. Pension spending is about 5.4 percent of annual GDP.

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