Although Europeans and Americans have vastly different retirement systems, they share in common a dissatisfaction with their respective systems. According to the results of a poll conducted jointly by Harris Interactive*, FRANCE 24, and the International Herald Tribune, between 64% and 70% of Europeans and Americans feel their systems function poorly or very poorly. And retirement policy is second only to purchasing power among their worries.

Primarily the concern is in the amount received. The study revealed that participants required rather high revenues, especially Spaniards, who estimated that they would require no less than 92% of their current salary in order to live comfortably during retirement. The figure among the French was 85%, 81% for Germans, 88% for Italians and 74% for Americans. The British only require 66%.

Participants in the study expressed a disinclination to retire early. There is also a discrepancy between the anticipated age of retirement and the age at which they would prefer to retire.  France had the distinction of being the nation in which the two figures were closest. Participants also expressed divergent views on the proper age of retirement. Americans had the highest figure, 65 years of age, as opposed to the French and Italians who felt that people should retire at 50.

As for financing the period of retirement, most Europeans looked favorably upon the existing system, as opposed to 48% of Americans who feel that it is up to the individual to save for retirement.  It is worth mentioning that the French are the most polarized of any European nation on this question.

* This poll was conducted online, from January 10 to 21, 2008, and involved 6,676 adults between the ages of 18 and 64 in Italy, and between the ages of 16 and 64 in France, Germany, Spain, Great Britain and the United States.