to put together, well, thank you very much for your time. it was a pleasure to talk to you and thank you. thanks the have you already made plans for retirement? maybe it's finally time you took up skydiving. did a round of boxing walk through a tight rope for enjoyed some partying. you'll have enough time to keep yourself fit, vacation year round, or just cruise around in your car. but wait, these things can cost a lot of money. will your pension be enough? let me take a look and also on today's show demography kind of government you subsidies to launch at baby boom. inheritance. who inherits one in which country

tourism. what makes destinations attractive to the l g. b t q wants community and marketing specialty foods for india, x best in germany. it's the 1st race for retired people of it's kind, having fun and staying fit in old age is important. but what about your standard of living as a retiree? let's compare the pension systems in 3 countries which go from bad to average to surprisingly good. in a recent study, india was ranked only 40 seconds out of $44.00 pensions. there are low, less than half what the average employee earnings. in addition,

the system is not considered sustainable and people's trust and it is low. we're still more than 80 percent of the employees do not pay into a retirement system. that does the, and this is the reason is because these pension systems do not adequately cover informal employment. working indians pay into the state pension system which then invest the money. 1 however, the return after deducting inflation is low, and around half of the pension may be paid out as a lump summit. the started retirement indian employees, therefore, prefer other alternatives. but more on that later, the china has the largest pension system in the world with more than 200000000 retirees and surprising conditions. man retire at 60 women at 55 and factory workers at 50. but the retirement age is being increased to $63.00 for men and $58.00 for women products. and then of isaac got, you must be like,

historically china has struggled to collect contributions from companies because ultimately, because of the legacy of the former state own enterprises, these companies carry heavy financial burdens. and that's part of the problem. another issue was with individual pension accounts as well. these accounts were set up to be partially funded. isaac, the money has also been used within the broader pension system, instead of being directly allocated to individuals. and since the average pension is only around 340 years, that's not enough to live on even in rural areas. in addition, migrant workers and farmers are barely covered by the pension system. 6 so only around half of working age people actually pay into the funds the system is financed on a pay as you go basis. meaning 3 employees pay to benefits for each retiring when they retire later, the younger ones pay for them. it's going to need only works to

a limited extent on the contribution and benefits side by side. more and more young people are setting additional funds aside with company pensions the right now it's still just a fraction. this is in contrast to the u. k. were most retirees have done well financially for a long time, thanks to their company pensions. it's a scheme where employees and employers contribute. the money is invested in funds and later paid out as a monthly pension. the inside is paid as a long tradition, which is why it's become so widespread before not anyone who earns more than $10000.00 pounds a year is entitled to a pension through their employer. together with the state pension, the average british retiree receives almost 2000 euros a month, a high figure, you can retire until you're $66.00. however, all 3 countries have a problem. the pension system is in danger of collapsing,

as there are more and more retirees and expenditures keep rising. young indians and chinese are increasingly taking out life insurance policies if they can stay. private and company pensions are designed to offer a solution to prevent a collapse in 5 digit ones. if she's the safety net, it has 3 layers that distribute the risk point. you could say there were 3 legs to stand on the door that there's not really shown of the life that sustainable financing over the long term. the oceans, in finding outside to get security and freedom from financial worries. it's something politics can achieve. david wants to but how can you be sure that you even get the pension later? how does the system work? and what country 1st introduced is why our pension systems now on the verge of

collapse in many countries. and what's the best way to organize the pension system? we explain all of that in detail. is your pension still safe? in 1889 chancellor of the german empire auto fund bismark introduce the world's 1st state pension scheme. workers and employers contributed equally and retire. reese received the monthly pension from the fund in many countries, few are young people are financing more and more retirees. as the birth rates are falling and people are living longer. this is a global issue affecting germany, averly, french, the us, japan and china, among others. as a result, pensions are shrinking well contributions and retirement ages are finding the generational contracts that existed as faltering and pension systems are on the

brink of collapse. one solution, some countries are investing part of their pension funds and stops increasing the base pension for returns sweeten. does this to achieve an annual return of 9 percent? the 2nd approach is employer based pensions, where companies set aside a portion of employees gross wages, adding a tax beneficial contribution. these supplements, future pensions. another key factor is private retirement planning, through property or stock investments, which individuals manage themselves. but if a country fully switches to private pensions, it can lead to problems as in cheaters. so earners may not be able to contribute much leading to old age poverty and pensions below the minimum wage. the best solution may be the netherlands, 3 color system, known as the cap of chino model. the base pension is the coffee employer,

pensions are the frothy milk and private savings of the chocolate sprinkles the to make pensions secure for older people. one thing is critically important children to pay into the retirement system once they start working. but 1st, rates are falling and many industrialized countries can generous subsidies for families help launch a baby boom. it's not quite that simple as you'll see in the following examples. with your 1st child, the government provides an interest free loan of 25000 bureaus with your 2nd child . 30 percent of that loan is forgiven. great for buying a car. for example, for a 3rd child, the state gives 25000 euro. if the family wants to build a home and for a 4th child, the mother is fully exempt from income tax. this is only available in

hungary, a small european country with about 10000000 people. bates, a part of the government's plan to raise the birth rate. but what's been the outcome after introducing these genuine subsidies, the birth rate initially went up, but recently it's been declining again. in the single just buys category is a good example of how financial incentives named boosting birth rates often don't achieve the desired results. are the things of the time it's is um, this is because they're too narrowly focused on finances of defense and i mean i have so that's why it's important to improve the overall conditions for raising children and pets on him can to become a can the cost of seeing a price on the other hand has shown how to do this better. it's birth rate is much higher. parents can send their children to daycare starting in the 1st year, allowing mothers to quickly return to full time work without worrying about career

breaks. the how was nice, we need plenty of child care options, but they also have to be high quality. right? yeah, the most parents don't just want to drop the kids of anywhere. you can actually even point. however, france has an exception among industrialized nations. the birth rate in developed countries has been low for some time. and according to u. n. forecast, it will likely stay that way. the french model isn't easy to replicate elsewhere. it doesn't touch a. these are deep rooted cultural and welfare systems that have evolved over many decades and even centuries, less money impact in non con either doesn't i'm so they can just be changed overnight. but peanut yet seem to mind when you're on that i was could be the time shrinking populations in industrialized countries have serious consequences. fewer

people means less economic output and less prosperity can immigration from developing countries filled the gap like it did in the past. we did, i came to behind, we expect the current level trends to continue with significant migration from the global sales to the global north global shoot me got some pacin roads and farmers offers individuals better opportunities for income and career advancement, aconia and also and so for best on bug with growing concerns about illegal immigration. many industrialized countries are now looking to tighten their borders, risk developing events, and then they will not. when thinking about demographic change angle, it's important to distinguish between regular immigration and humanitarian refugee movements. and the image by the end item for these 2 issues shouldn't be lumped together when discussing how to offset demographic shifts. feet on germany

with its 84000000 people has long relied on immigration to compensate for its low birth rate. however, legal immigration may decline in the long run that's because birth rates are dropping significantly around the world, which means fewer potential migrants getting a lot of things moved from in general. it makes more sense to 1st focus on improving the domestic workforce is participation in the labor market? second, all right, smart for china instead of relying heavily on migration. so now we should look 2 groups like unemployed women ending 4 people with immigrant backgrounds and ms and one who tend to have higher unemployment rates in germany than the native population from and on, and dodge loans. despite some mixed results, hungry is sticking with its generous funding policies. these programs mostly benefit and middle class families. so it was who can afford to prepay the loans. but one thing, they definitely bring votes. the

something else can help you maintain your wells and retirement. and inheritance. some countries levee an inheritance that while others don't close, family members often inherit the largest share. and there are major differences in inheritance law depending on which country you live in. and whether you are a man or woman. how does in or intense work in different parts of the world? in many european countries, spouse has generally inherited 50 percent, but forced air ship rules often prioritize children. children usually inherit a large portion, often equally divided, and forced air ship protects their share. while you can create a will forced air ship and countries like germany, france, and spain, and shores, the children and spouse receive a portion of the state. in many cases,

the spouse may receive at least a quarter, while another part is reserved for the children. inheritance is regulated differently under is lumnick law and can vary greatly. if a deceased husband has children, his widow generally received one a while the rest is divided among the children, the son receives twice as much as a daughter. the situation is different. if the wife dies, if she leaves behind children, the widow or gets a quarter of the estate, in other words, twice as much as a widow, the rest goes to the children with sons privileged over daughters. there are a few societies where women are favored when it comes to inheritance. in some tribal societies in indonesia, for example, daughters have an advantage when it comes to inheritance. in natural lineal

societies, daughters inherent, most of the land and assets. the inheritance remains in the maternal line and is passed on from mother to daughter. the same goes for the family and clan name. the sons receive little in the way of personal property, the same 6 thousands may also inherit from their partners, but not everywhere. about a 3rd of all countries still do not recognize gay or lesbian partnerships. errors are taxed as non family members. this is one example of discrimination against homosexuals. that sense, more and more industries are discovering b l, g, b t, q plus community. that's a great market and are actively courting them. this new customers.

they're arriving in drugs on because the crowds could get even larger as the greek island makes them play for a queer tourist. at least it's been very, very, very, very well, good counsellors where you can see yourself being gays, a crime. so here everyone's friendly and with seals say it's all the same. the island has always been popular in the l g. b t q plus known to be open minded and not judge mental, but towards tear better bring some cash to spend in some of the luxury brand stores . here, it's super, super expensive. the price that are you saying k, people have a lot of money the queer community contributes about 177000000000 euros to global tourism,

according to specialized travel agent. we're destinations. the greek government would like to grow its market share in this segment. they've just signed a contract with the provider. domenico school costs is renting out sweets. almost half of his customers are queer. he'd be happy to welcome even more guests, but he also fears the downside of over tourism. victories is very dedicated. doesn't to me that to have that as super, the super stories, because the stories, everything, the stories that made sort of the stories that was fair and the gay community is very sensitive on the changes. good to realize how is changing and why. gabriella fi. t is a wedding planner on the island of less books. popular with lesbian couples, she currently sees a lot of demand. since greece has officially started to recognize gay marriage,

i have had to request from turkey and from america from the us. and i am now in the process of telling them what papers they need it. and then, of course, we will go into the details, which is the, the most fun things to do, where they're getting married the, what the photographer they will choose which the day was music. gabriella fontes found a lucrative in each market. conservative greeks and the church might still have reservations, but she's optimistic that even more queer tourists will make their way degrees and not just to less of us. and because the specialty foods from around the world are a big business. not only have asian markets become widespread in germany with specialty shops focused on french or italian products to one area that remains

under represented is india and india and community amber. lynn is growing rapidly that gave one entrepreneur of the ideas to go after this market and an issue. we took a look at once he's accomplished. hi, i'm shut off. i'm calling to be a product manager and i found that spice and the international grocery store delivering in demand asian grocery throughout germany. the a vehicle . i agree with drinking, try to this is what we use for my thought dry or with eating these indian cookies. everyone have been diagnosed as brand inside out. it's as far as the 1st penguin became years, we realize that these teams and the snags, you know, something that'd be growing up with. our parents are growing up, the web for generations were not available. there was a big influx of highly skilled workers from india. we're actually missing this

indian food, one of our favorites. and this is, you know, the cookies that i was talking about earlier, which definitely reminds everyone of whole family g i. e file easy was my morning p . if i'm bring your kids eat somebody, your dogs eat it, something everyone has grown up either. so what i noticed was a lot of the shop owners, they've been here for the last years. you know, uh they still don't have that same emotional connect as we would as new expects when you did not have that sentiment or doubt, you really do not understand what the brands are, what this, you know, sentimental value. these brands have, you know, we've grown up with these brands. one of our main business drivers is definitely our online shop where we have a mobile experience as well as a nice website. and that has definitely been instrumental to our growth because like i said, indian cooking is volume this and you need a lot of ingredients every day. it has been an unforgiving experience with

a lot of mistakes where it, you know, sending, selecting the wrong delivery partners didn't, on the back end, the orders and the right way to not delivering on time. a lot of times you know, when they're newly moved experts, vc vc as moving around, they asked the this, the speaking in english speaking and then the speaking in our major languages. and that's when it brings them a little bit of home feeling. and we hope that people who feel comfortable to comfortable as an oscar, as whatever they like, you know, we, as regarding housing regarding these are abiding, you know groceries regarding jobs, providing i t, whatever the reason was not again, just to drive business or just to get customers here, but also just to have an emotional connect with the customer just so that they able to come here have a small smack. have some mythology, i have some anger, let's see by some groceries that they've been creating for days or maybe weeks. these biscuits. it's almost like an engine emotion. setting up a business anywhere in the wireless bask in germany. it is definitely

a little bit more of a difficult task. not just, you know, the language is i would say once again, a small issue of the knowledge. a lot of issues that people say, you know, things are quite slow and and there are certain who is which, which are hard to understand for an expert. and i'm just navigating those red tapes and bureaucracies is an extremely don't thing on their fine job. i do believe that they're still a lot of school for support and the support from the government and institutions i understand can be quite limited. the and, you know, your partners are and bought. and i, you know, as i said, if you wanna walk, if you wanna walk 5 to walk alone. but if you wanna walk further, you walk with someone is a stressful thing to run a business and, and there's no working hours. i think you have to be obsessed if you want to be

a freelance. so if you want to be an entrepreneur, you have to be upset. that's the only way i can put it. first thing that comes to your mind is your sacrifice. a lot of their mental health because the stress and pressure you put yourself under for a 1st time found or that can be, you know, quite a difficult journey. and that's again, coming back to me, you need someone to do this, you know, walk this thoughts with. but for me that has been the biggest sacrifice, you know, i'm not taking a break trying to. busy ways get up when you find a place that we've come to quite often whenever we want to unwind, we want to relax. we want to want the dog for you with the dog. this is this. we find this to be quite a relaxing place to us to read a book and just online from, you know, the computer and from work and so on. a review of lenders, dod way that you know, we need to make sure that'd be paid timeout, even if you have a busy day. even if you feel the need to keep the momentum going. i'd walk address

for me is a great, is a great way to, you know, not just, not just get some exercise, but also sooner divert my mind from, from a lot of the other, you know, stressful tasks back. come. i had a 5 every day. it really helps me on line. it has the get some exercise. i've also met some really, really nice people who i think that of the more competitive it gets, the more funded gets the rear out of the community garden. just on the outskirts of berlin. there's a lot of smaller pieces of land there that are, that are being rented out to people like guys, you know, people like i city dwellers who want to, you know, engross implants who want to run some vegetables. so living in the city center with the hustle bustle of balloon and the kind of walk nice that we have a desk job,

you know, in front of our screens, we want to give us as a big go away from the image to life and do something hands on and in a green space. yeah, i mean, what are the main reasons i left entrepreneurship? i moved to a full time job was i believe that a via t of what he wanted to achieve advice and that's on a bus i level. we were able to create a community. we were able to create a social impact. we were able to, you know, also create a sustainable business, and that's where, you know, my wife and i decided to draw the line back. you know, we are happy with this road. we're happy with what we've achieved. of course, you know, you can achieve a lot more, but now maybe it's time for a new challenge. my advice or young entrepreneurs is to get off. i'm not going. there's only so much planning you can do. you with fox, you would trip out, but that's the best way to learn. that's it

for another edition of main where we looked at pensions, how to spark a baby boom to fund them. inheritance rules l g b t, t plus tourism and india. and to see you next time the

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