Technical reference
Every stochastic component the model uses, written down: the distributions, the formulas, and the parameters behind them.
This is the complete technical reference for the simulator’s model: every stochastic component it uses, set down with its distribution, its formula, and the parameters behind it. It assumes you are comfortable with the notation below. For the same ground in plain language, see How it works; for what the model deliberately leaves out, see Assumptions & limits.
1. How a simulation runs
The simulator follows one household across independent possible futures, year by year, from today to the last death in each future. Each path is its own roll of the dice: its own sequence of market returns, inflation, lifespans, and shocks. The numbers you see on the results page are summaries across all paths.
Every year runs through one cash-flow model: income and expenses meet, the portfolio funds any gap subject to a withdrawal rule, and, when money is tight, spending is cut. What distinguishes the years before retirement is a coverage assumption: your expense inputs describe your retirement plan, not your working-age budget, so pre-retirement the model injects a synthetic coverage income that closes the gap in normal times. The household is assumed to live off its earnings; only your stated contributions and one-off lump sums (an inheritance, a severance payment) are added to the portfolio. Steady income like rent is assumed consumed rather than auto-invested, because whatever you do save from it is already part of your stated contribution.
In a covered year the balance update therefore reduces to simple compounding plus new savings:
where is the year’s contribution: entered in today’s euros, grown with inflation and any real raise, and (only when job-loss risk is enabled) paused in years the person is out of work. From retirement onward the coverage assumption ends. The expense inputs become the authoritative spending plan, and every income stream (pensions, rent, a still-working partner’s salary) offsets the drawdown, with any genuine surplus invested.
What happens each year
Within a single year, the model resolves events in a fixed order, because later steps depend on earlier ones (a death changes expenses; inflation sets the price level before costs are computed):
- Mortality: determine who, if anyone, dies this year.
- First-death transitions (couples): when one partner dies, permanently adjust the survivor’s expenses and pensions.
- Long-term care: test for the onset of a care episode, and age any episode already under way.
- Job loss: before retirement, test for an employment shock (only when job-loss risk is enabled; it is off by default).
- Inflation: draw this year’s inflation and advance the price level.
- Investment return: draw the blended portfolio return.
- Expenses: compute all seven spending buckets at this year’s prices.
- Income: compute all income streams.
- Withdrawal ceiling: the withdrawal rule proposes how much may be drawn.
- Spending cuts: if income plus the allowed draw cannot cover expenses, cut discretionary spending in priority order.
- Balance update: settle the year: subtract the net withdrawal, apply the return, add contributions and any surplus.
The rest of this reference takes these components one at a time.
2. Investment returns
The portfolio holds three assets (equities, bonds, and cash) in weights that sum to one. Its return in any year is the weighted blend of the three asset returns, less a flat annual management fee:
Allocation: fixed or glidepath
You can hold a fixed allocation (by default 60% equities, 40% bonds, 0% cash) or follow a glidepath, a schedule that shifts the mix as you age. Under a glidepath the equity share is read off a line through your chosen age-and-weight points: interpolated between them and held flat beyond the ends. Whatever is not in equities is split between bonds and cash in a fixed ratio (by default 80% to bonds). For a couple, the allocation follows the first person’s age.
The distribution of returns and inflation
Each year’s equity, bond, cash, and inflation outcomes are drawn together from one joint distribution, so they move in a correlated way: equities and inflation lean against each other, cash and inflation lean together, and so on. The distribution is defined by each variable’s mean and volatility and by the correlations between them.
Two shapes are available. The default is a multivariate normal: each outcome is its mean plus a correlated random shock,
where collects the means and the variances and correlations. The alternative is a Student-t distribution, which keeps the same means and correlations but gives fatter tails: extreme good and bad years happen more often than the normal would predict. Its heaviness is set by a degrees-of-freedom parameter (lower = fatter tails); it is scaled so that the variances and correlations are preserved exactly.
| Parameter | Default | Meaning |
|---|---|---|
| Equity return | 8% ± 17%mean ± vol | Long-run equity mean and volatility |
| Bond return | 4.5% ± 8%mean ± vol | Long-run bond mean and volatility |
| Cash return | 3% ± 3%mean ± vol | Short-term/cash mean and volatility |
| Inflation | 2.5% ± 3%mean ± vol | General CPI mean and volatility (default model) |
| Management fee | 0.3%per year | Flat drag on the blended return |
| Default allocation | 60 / 40 / 0eq / bond / cash % | Fixed allocation when no glidepath is set |
| Student-t tails | ν = 6 | Degrees of freedom when fat tails are enabled (min 2) |
3. Inflation: regime-switching
By default, inflation is one element of the joint draw above. An optional regime-switching model replaces it with something more realistic over long horizons: inflation alternates between a calm regime and a high regime, and persists in each.
A hidden two-state process governs which regime each year is in. From a calm year, inflation usually stays calm; from a high year, it usually stays high; occasionally it switches. The starting regime is drawn from the model’s long-run balance of the two.
Here is the chance a calm year is followed by another calm year (default 93%) and the chance a high year stays high (default 80%). Within each regime, inflation is drawn around a regime-specific average (calm around 2.2%, high around 7%) with its own spread.
Returns respond to inflation
The point of this model is that investment returns react to inflation. Once the year’s inflation is known, each asset’s return is drawn around its mean, tilted by how far inflation landed from its regime average:
The sensitivity differs by asset, and for equities it is stronger in the high-inflation regime (a deeper negative link) than in the calm one. In this mode the assets are tied to one another only through their shared response to inflation, rather than through direct asset-to-asset correlations.
4. Mortality
Each person’s age at death is drawn once, at the start of their path, from a Gompertz distribution, the standard actuarial shape in which the chance of dying rises roughly exponentially with age. The distribution is pinned by two numbers: a mode (the most likely age at death) and a dispersion (how spread out it is). Drawing a uniform random number and inverting the survival curve gives the years remaining:
with a hard cap at age 120.
The random number is drawn once, but the resulting age at death is not immutable: two in-simulation events can pull it earlier. Entering a care episode raises the death hazard for the episode’s duration (§6), and for couples the loss of a partner applies the widowhood adjustment below. Both work by re-solving the same survival curve with the elevated hazard. No new randomness enters, so comparisons across scenarios stay apples-to-apples.
The mode and dispersion come from country-specific life tables, by sex. Self-reported health then shifts the mode: better-than-average health pushes the likely age at death later, worse health pulls it earlier.
| Parameter | Default | Meaning |
|---|---|---|
| Greece (male / female) | (84.6, 10.7) / (88.5, 9.9)years | Most likely age at death, and spread |
| United States (male / female) | (84.8, 9.5) / (88.2, 10.5)years | Most likely age at death, and spread |
| Health adjustment | excellent → poor | Shifts the mode earlier or later by self-reported health |
| Maximum age | 120years | Hard cap on any drawn lifespan |
The widowhood effect
For couples, losing a partner shortens the survivor’s own expected life. In the year the first death actually occurs, the model brings the surviving partner’s age at death forward by a fixed amount, a deliberately simple stand-in for the well-documented spike in mortality after bereavement. The shift is on the order of one to two years for typical dispersions, and the survivor is always left with at least one more year than the partner who died first. If a bereaved survivor later enters a care episode, the care-driven recalculation of their lifespan (§6) is done first and the widowhood shift is then re-applied on top. That layering is a documented approximation rather than a joint model of the two hazards.
5. Couples
Correlated lifespans
Partners’ lifespans are not independent: shared environment, lifestyle, and age tend to make them die closer together than chance alone would suggest. The model captures this with a Frank copula, which links the two random draws that set each partner’s death so that they are positively associated, while still letting each partner’s age at death follow its own Gompertz curve. A single parameter controls how tightly the two lifespans are coupled.
What changes at the first death
A couple’s path moves through four states: both alive, either partner alone as the survivor, or both gone. The first death is a turning point, and the model makes three permanent adjustments to the survivor’s finances:
Expenses step down, bucket by bucket, because one person costs less than two, though not proportionally and not for everything:
| Parameter | Default | Meaning |
|---|---|---|
| Essential | 60%of couple | Food, utilities, day-to-day basics |
| Discretionary | 55%of couple | Travel, leisure, non-essentials |
| Healthcare | 55%of couple | One person's care rather than two |
| Housing | 100%of couple | Unchanged; see below |
| Long-term care | per person | Already individual; not scaled |
Housing costs are left unchanged after a death. A mortgage payment, property taxes, and maintenance on the same home do not fall just because one resident is gone, so the model holds them at the couple’s level rather than discounting them.
Pensions are reduced. Each partner’s pensions are personal: when a partner dies, their pension streams continue to the survivor only at the stream’s survivor share, while the surviving partner’s own pensions are untouched. The share the input step prefills is each country’s statutory rule resolved to an effective share for a typical dual-pensioner couple: Greece’s 70% halves once the survivor draws their own pension, the Netherlands pays no inheritance but raises the survivor’s own pension to the single rate, Sweden and Norway pass on nothing at all to retirement-age survivors. The per-country table in §10 lists every rule with its source.
Two countries follow a different mechanism entirely. In the United States and Ireland the survivor does not keep their own pension plus a share of the deceased’s; the household keeps the larger of the two main pensions. The model implements this directly: at the first death the deceased’s main stream is reduced so that the household’s main-pension income equals the larger of the two. For an equal-earning couple that means the survivor inherits nothing on top, which a fixed share would badly overstate. This computation uses the two entered amounts, so it is exact while both main pensions follow the same uprating path, which both countries’ price-linked rules satisfy; a manually diverged indexation makes it an approximation. Spousal top-ups paid while both partners are alive are not modeled.
6. Long-term care
Long-term care is modeled as its own spending bucket with its own onset, separate from ordinary healthcare. In any year, a person who is alive and not already in care can enter a care episode. The annual chance of onset rises with age along a Gompertz curve anchored at 65 and set slightly higher for women than men:
When an episode begins, its length is drawn from a lognormal distribution (a short-skewed shape: most episodes are brief, a few run for years), rounded up to whole years. While the episode is active, the long-term-care bucket carries that year’s care cost; when it ends, the bucket returns to zero. If the person dies mid-episode, both the episode and its cost end with them.
A care episode also raises the person’s mortality for its duration. Concretely: at onset, the person’s death hazard is multiplied by ×4 for the episode’s length, then returns to the normal age curve if they recover. Their age at death is re-derived under that elevated-hazard window from the same random draw that set it originally (a closed-form recalculation on the Gompertz curve of §4, not a re-roll). Someone drawn to die at 90 who enters care at 80 will typically die years earlier; someone who recovers from a short episode keeps most of their remaining life. Repeat episodes compound correctly. This matters for the headline number: without it, care paths would pay care costs over a full unshortened lifetime, systematically overstating cumulative care expense (the model’s scariest cost) and understating the chance of the money lasting for care-exposed plans.
By default the full market cost of care applies. If the family-care option is enabled, each episode is additionally tagged (with a country-specific probability) as one where family provides care, in which case a much lower cost applies for that episode instead.
What care costs, and who pays it
The cost of care is the single most country-dependent number in the model, and not because care is cheaper in some places. It is because the share of the bill that reaches the household differs enormously. In the United States a resident with savings pays the full private rate. In Denmark the care itself is free by law and what a resident pays is essentially rent and food. Those are not small differences of degree: they are the difference between a risk that can end a plan and one that barely registers.
Every figure below is what the household itself pays in a year, in today’s money and the country’s own currency, for a household that has retirement savings. That qualification does real work. Where help is means-tested, having savings is what disqualifies you from it, so the modelled household pays the full rate. Where care is funded for everyone against a capped fee, savings change nothing and the capped fee is what you pay.
| Country | Per year | Who pays | Where the figure comes from |
|---|---|---|---|
| Norway | NOK 285,918 | The state funds the care. You pay a capped fee plus your room and meals. | Lovdata / Helse- og omsorgsdepartementet (Norway)source |
| Denmark | DKK 188,400 | The state funds the care. You pay a capped fee plus your room and meals. | Borne-, Aeldre- og Boligministeriet (Denmark)source |
| Sweden | SEK 153,564 | The state funds the care. You pay a capped fee plus your room and meals. | Socialstyrelsen (Sweden)source |
| United States | $129,575 | You pay the full price until your savings run down far enough to qualify for help. | Genworth Financial / CareScoutsource |
| New Zealand | NZ$84,990 | You pay the full price until your savings run down far enough to qualify for help. | Ministry of Health, New Zealandsource |
| Switzerland | CHF 80,946 | Costs are split between the public system and you, by type of cost. | Bundesamt fuer Gesundheit (BAG)source |
| Australia | A$71,639 | Costs are split between the public system and you, by type of cost. | Australian Government Department of Health, Disability and Ageingsource |
| United Kingdom | £67,496 | You pay the full price until your savings run down far enough to qualify for help. | Department of Health and Social Care (GOV.UK)source |
| Ireland | €51,050 | You pay the full price until your savings run down far enough to qualify for help. | Health Service Executive (HSE), Irelandsource |
| Germany | €40,368 | Public care insurance pays a fixed amount by care level. You pay the rest. | Verband der Ersatzkassen e. V. (vdek)source |
| Netherlands | €36,742 | The state funds the care. You pay a capped fee plus your room and meals. | CAK (Centraal Administratie Kantoor)source |
| Austria | €34,776 | The state funds the care. You pay a capped fee plus your room and meals. | oesterreich.gv.at (Republic of Austria, Bundeskanzleramt)source |
| Spain | €27,961 | You pay the full price until your savings run down far enough to qualify for help. | European Commission (Social Protection Committee / DG EMPL)source |
| Belgium | €27,200 | Costs are split between the public system and you, by type of cost. | Departement Zorg, Flemish Government (Belgium)source |
| France | €25,968 | Costs are split between the public system and you, by type of cost. | Caisse nationale de solidarite pour l'autonomie (CNSA)source |
| Canada | CA$25,550 | The state funds the care. You pay a capped fee plus your room and meals. | Government of Ontario, Ministry of Long-Term Caresource |
| Finland | €25,400 | The state funds the care. You pay a capped fee plus your room and meals. | Pirkanmaan hyvinvointialue (Finland)source |
| Portugal | €22,224 | You pay the full price until your savings run down far enough to qualify for help. | OneValue, Government of Portugalsource |
| Italy | €19,164 | Costs are split between the public system and you, by type of cost. | Altroconsumo (Euroconsumers)source |
| Greece | Not publishedwe ask you instead | You pay the full price until your savings run down far enough to qualify for help. | No statistics office, regulator or ministry publishes one. |
The same figures, one country at a time and alongside everything else the model assumes there, are on your country’s page.
Why the model does not bill you the whole figure
Each of those charges buys a room and meals as well as care. Your plan is already paying for a roof and for groceries in its housing and essential spending, and the model keeps paying for both throughout a care episode. Billing the published charge on top would charge you twice for the same bed and the same dinner.
So the model bills the published figure minus what moving into care replaces, worked out from your own budget rather than a national average:
- If you own your home, it subtracts your food and utilities only. You still owe the mortgage, the property tax and the upkeep on a house you are no longer living in, which is a real cost that people entering care genuinely carry.
- If you rent, it subtracts your food and utilities and your rent, because the lease ends.
- In a couple where one partner stays home, the housing is not touched. Only the partner in care stops eating at home.
- Where family provides the care, nothing is subtracted at all. That care happens in the person’s own home, where they keep buying their own food and paying their own rent.
Where a country publishes a breakdown of its charge, that breakdown caps the subtraction, so the model can never credit back more living cost than the charge actually contains. Six countries publish one:
| Parameter | Default | Meaning |
|---|---|---|
| Denmark | 100% | Of the published charge |
| France | 91.53% | Of the published charge |
| Sweden | 79.88% | Of the published charge |
| Switzerland | 66.53% | Of the published charge |
| Germany | 47.24% | Of the published charge |
| Australia | 45.32% | Accommodation is charged separately here, so rent is never subtracted |
Australia is the exception that has to be handled by name: its published charge covers care and everyday living but not accommodation, which is billed separately. Subtracting an Australian household’s rent from it would discount the same thing twice.
| Parameter | Default | Meaning |
|---|---|---|
| Annual cost of care | €129,575 (US) / €25,968 (FR)today's money, per year | What the household pays while in care; see the table above for all twenty |
| Food and utilities share | 38.1% (US) / 66.33% (IT)of essential spending | The part of your essentials a care home replaces |
| Family-care cost | €3,000today's money, per year | Applied when family provides care (if enabled) |
| Family-care chance | 66.4% (GR) / 20% (US) | Probability an episode is family-provided, when enabled |
| Mortality during care | ×4 | Multiplier on the death hazard while in care |
Care costs rise each year with medical inflation, which runs above general inflation (see §8).
The full reference list
The source column in the table above carries one link per country, the strongest publication for the headline charge. The figures behind a country rest on more than that one page, so here is everything each country’s care model was built from, from the nursing-home fee itself down to the household budget survey that sets how much of your food spending a care home replaces.
Australia9 publications
- Accommodation payments and contributions for residential aged careAustralian Government Department of Health, Disability and Ageing · 2026
- Basic daily feeAustralian Government Department of Health, Disability and Ageing · 2026
- Means tested fees for residential aged careAustralian Government Department of Health, Disability and Ageing · 2026
- Refundable accommodation deposit and contribution (RAD and RAC) retentionAustralian Government Department of Health, Disability and Ageing · 2026
- Schedule of fees and charges for residential and home care, from 20 March 2026Australian Government Department of Health, Disability and Ageing · 2026
- Consumer Price Index, Australia - index numbers, weighted average of eight capital cities (dataflow ABS,CPI,1.1.0)Australian Bureau of Statistics · 2025
- Health expenditure Australia 2023-24Australian Institute of Health and Welfare · 2025
- Disability, Ageing and Carers, Australia: Summary of Findings, 2022Australian Bureau of Statistics · 2022
- Household Expenditure Survey, Australia: Summary of Results, 2015-16, data cube 10 'Age of reference person' (65300do010_201516), table 10.3AAustralian Bureau of Statistics · 2016
Austria14 publications
- Konsumerhebung 2024/25: Monatliche Verbrauchsausgaben nach Alter der Referenzperson (Tab_3a, Tab_1b)Statistik Austria · 2026
- Kosten fuer Alten- und Pflegeheimeoesterreich.gv.at (Republic of Austria, Bundeskanzleramt) · 2026
- Pflegegeld: Voraussetzungen, Hoehe und Pflegestufen 2026Pensionsversicherungsanstalt (PV) / Sozialministerium · 2026
- Soziale Dienste fuer pflegebeduerftige MenschenBundesministerium fuer Soziales, Gesundheit, Pflege und Konsumentenschutz (Sozialministerium), Austria · 2026
- Betreuungs- und PflegediensteSTATISTIK AUSTRIA · 2025
- Gender-Statistiken: PensionenSTATISTIK AUSTRIA · 2025
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Informationen zur Berechnung des Kostenbeitrags fuer Wohnen und PflegeFonds Soziales Wien (FSW) · 2024
- Visualisierung des oesterreichischen Pflegesystems: Herausforderungen und PerspektivenOesterreichisches Institut fuer Wirtschaftsforschung (WIFO), Famira-Muehlberger and Weingaertner · 2024
- Verbrauchsausgaben 2019/20, Sozialstatistische Ergebnisse der Konsumerhebung, Kapitel 1 Tabelle 4Statistik Austria · 2021
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- Expenditure for selected health care functions by health care financing schemes (hlth_sha11_hchf)Eurostat / OECD-Eurostat-WHO System of Health Accounts · 2026
- HICP - annual data (average index and rate of change) (prc_hicp_aind)Eurostat · 2026
- Eurostat HBS 2020: hbs_exp_t135 (mean consumption expenditure by age of reference person), hbs_str_t225 / hbs_str_t211 (structure of consumption, CP06), hbs_car_t314 (household characteristics by age)Eurostat · 2020
Belgium11 publications
- Depenses de sante a charge des menages (SHA) / Quelle part des depenses de sante en Belgique est a la charge des menages?SPF Securite sociale (Federal Public Service Social Security), Belgium · 2026
- Iriscare report on daily prices in Brussels facilities for older peopleIriscare (Brussels bicommunity social protection body) · 2025
- Meting dagprijzen in woonzorgcentra (measurement of 1 May 2025)Departement Zorg, Flemish Government (Belgium) · 2025
- Zorgbudget voor zwaar zorgbehoevendenDepartement Zorg, Flemish Government (Belgium) · 2025
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Performantie van het Belgische gezondheidssysteem, rapport 2024: Zorg voor ouderenKCE / Sciensano / RIZIV (gezondbelgie.be) · 2024
- Wat is in de dagprijs van een woonzorgcentrum inbegrepen? (implementing the Ministerial Decree of 7 June 2023)Departement Zorg, Flemish Government (Belgium) · 2023
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- HICP annual average indices, dataset prc_hicp_aind (unit INX_A_AVG, 2015=100), COICOP CP00 and CP06Eurostat · 2026
- Health care expenditure by financing scheme, dataset hlth_sha11_hf (unit EUR_HAB)Eurostat · 2026
- Eurostat HBS 2020: hbs_exp_t135, hbs_str_t225 / hbs_str_t211 (CP06), hbs_car_t314, BelgiumEurostat · 2020
Canada8 publications
- Paying for long-term careGovernment of Ontario, Ministry of Long-Term Care · 2026
- Survey of Household Spending 2023, Public Use Microdata File (catalogue 62M0004X)Statistics Canada · 2026
- Consumer Price Index, annual average, not seasonally adjusted (table 18-10-0005-01)Statistics Canada · 2025
- Long-term care home level-of-care per diem funding summaryGovernment of Ontario, Ministry of Long-Term Care · 2025
- User Guide for the Survey of Household Spending, 2023 (62F0026M2025001), Appendix G Table G1Statistics Canada · 2025
- Household spending by age of reference person (table 11-10-0227-01), Survey of Household Spending 2023Statistics Canada · 2023
- Table 11-10-0227-01: Household spending by age of reference person (Survey of Household Spending)Statistics Canada · 2023
- Care receivers in Canada, 2018 (The Daily, 22 January 2020)Statistics Canada · 2020
Denmark16 publications
- Hvad koster det at bo i plejebolig (2026 takster)Furesoe Kommune (Denmark) · 2026
- Satser pa aeldreomradet for 2026Borne-, Aeldre- og Boligministeriet (Denmark) · 2026
- Bekendtgorelse nr. 1719 af 18. december 2025 om betaling for generelle tilbud og for tilbud om personlig og praktisk hjaelp m.v. efter 79, 83, 83 b og 84 i lov om social serviceSocial- og Boligministeriet / Retsinformation (Denmark) · 2025
- Huslejestatistik 2025 (rent as at 1 January 2025)Landsbyggefonden (Denmark) · 2025
- Sundhedsloven 138Danske Love (rendering of lovbekendtgorelse om sundhedsloven), Denmark · 2025
- Forbrugsundersogelsen: FU18 (forbrug efter alder, COICOP 06) og FU11 (personer pr. husstand), 2015-2024Danmarks Statistik · 2024
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Register of Medicinal Product Statistics (medstat.dk), 2024 ATC-level sales with patient shares by single year of ageSundhedsdatastyrelsen · 2024
- Statbank table FU11, Household budget survey: background information by group of households (persons per household, head aged 60-74)Danmarks Statistik · 2024
- Statbank table FU18, Consumption by group of consumption, age, price unit and time (Forbrugsundersogelsen)Danmarks Statistik · 2024
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- Harmonised index of consumer prices, annual average index, by COICOP (prc_hicp_aind, unit INX_A_AVG)Eurostat · 2025
- Persons in households with at least one person that reported a need for long-term care, by care status and household composition (ilc_ats22), EU-SILCEurostat · 2024
- 2021 Long-Term Care Report: Trends, challenges and opportunities in an ageing society, Volume IEuropean Commission (DG EMPL) and the Social Protection Committee · 2021
- Self-reported use of home care services by people with severe difficulty in personal care activities, by sex and age (hlth_ehis_am7sa), EHIS wave 3Eurostat · 2019
- Betaling i plejebolig og aeldreboligAeldre Sagen (Denmark) · 2026
Finland11 publications
- Asiakasmaksut - Keski-Uudenmaan hyvinvointialue (2026)Keski-Uudenmaan hyvinvointialue / Keusote (Finland) · 2026
- Sosiaali- ja terveydenhuollon asiakasmaksut 2026 (client fee guide implementing asiakasmaksulaki 734/1992)Pirkanmaan hyvinvointialue (Finland) · 2026
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Sairaanhoitokorvausten saajat ja maksetut korvaukset, kunnittain 2024 (avoindata.fi open data)Kela · 2024
- Kulutustutkimus: kotitalouksien kulutusmenot kotitalouden viitehenkilon ian mukaan (StatFin ktutk 14q4, 14q9; waves 2012, 2016, 2022)Statistics Finland · 2022
- StatFin tables ktutk 14q4 (Household consumption expenditure by age of reference person) and 14q9 (Background information by age of reference person), Household Budget SurveyStatistics Finland (Tilastokeskus) · 2022
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- Harmonised index of consumer prices, annual average index, by COICOP (prc_hicp_aind, unit INX_A_AVG)Eurostat · 2025
- Persons in households with at least one person that reported a need for long-term care, by care status and household composition (ilc_ats22), EU-SILCEurostat · 2024
- Self-reported use of home care services by people with severe difficulty in personal care activities, by sex and age (hlth_ehis_am7sa), EHIS wave 3Eurostat · 2019
- Ikaantyneiden ymparivuorokautisen hoivan kustannuslaskenta 2023Hyvinvointiala HALI ry (Finland) · 2023
France10 publications
- Prix des EHPAD en 2024: un ecart important entre les chambres habilitees a l'aide sociale et les autresCaisse nationale de solidarite pour l'autonomie (CNSA) · 2026
- Reperes statistiques no 27: En 2024, un ecart moyen de 1 000 euros par mois entre les chambres habilitees a l'aide sociale en EHPAD et les autresCaisse nationale de solidarite pour l'autonomie (CNSA) · 2026
- Comprendre les prix, tarifs et prestations affiches dans l'annuaire des EHPADPortail national d'information pour l'autonomie des personnes agees (pour-les-personnes-agees.gouv.fr), France · 2025
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- L'aide sociale aux personnes agees ou handicapees, Edition 2024, fiche 04: La perte d'autonomie et les aidants des personnes ageesDREES, France · 2024
- La complementaire sante, edition 2024, Fiche 11: primes des contrats individuels par age (enquete OC 2021, data file)DREES · 2024
- La complementaire sante, edition 2024, Fiches 14-15: reste a charge apres AMO et AMC par age (Ines-Omar 2019, data files)DREES · 2024
- La complementaire sante: acteurs, beneficiaires, garanties, Edition 2024 (updated 2025)DREES (Direction de la recherche, des etudes, de l'evaluation et des statistiques), France · 2024
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- HICP annual average indices, dataset prc_hicp_aind (unit INX_A_AVG, 2015=100), COICOP CP00 and CP06Eurostat · 2026
Germany12 publications
- Eigenbeteiligungen steigen erneut: Pflegeheimbewohner und -bewohnerinnen zahlen im ersten Jahr durchschnittlich 3.364 Euro im Monat aus eigener TascheVerband der Ersatzkassen e. V. (vdek) · 2026
- FAQ Eigenanteile in der vollstationaeren PflegeVerband der Ersatzkassen e. V. (vdek) · 2026
- Sozialgesetzbuch (SGB) Elftes Buch, Paragraf 82: Finanzierung der PflegeeinrichtungenBundesministerium der Justiz / Bundesamt fuer Justiz, gesetze-im-internet.de · 2026
- 5,7 Millionen Pflegebeduerftige zum Jahresende 2023 (Pflegestatistik)Statistisches Bundesamt (Destatis) · 2024
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Statistischer Bericht, Laufende Wirtschaftsrechnungen, Einkommen, Einnahmen und Ausgaben privater Haushalte 2022 (sheets 63121-13, 63121-01)Statistisches Bundesamt (Destatis) · 2022
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- Einkommens- und Verbrauchsstichprobe 2018, Konsumausgaben privater Haushalte, Fachserie 15 Heft 5, Tabelle 1.4 (Konsumausgaben nach dem Alter der Haupteinkommenspersonen)Statistisches Bundesamt (Destatis) · 2018
- Preisvergleich Betreuungs- und Aufenthaltstaxen von Schweizer Alters- und PflegeheimenPreisueberwachung (PUE), Eidgenoessisches Departement fuer Wirtschaft, Bildung und Forschung · 2018
- Expenditure for selected health care functions by health care financing schemes (hlth_sha11_hchf)Eurostat / OECD-Eurostat-WHO System of Health Accounts · 2026
- HICP - annual data (average index and rate of change) (prc_hicp_aind)Eurostat · 2026
- Eurostat HBS 2020: hbs_exp_t135, hbs_str_t225 / hbs_str_t211 (CP06), hbs_car_t314, GermanyEurostat · 2020
Greece10 publications
- Ereuna Oikogeneiakon Proypologismon (Household Budget Survey) 2024, press release with Tables 1, 5, 6 and 8ELSTAT (Hellenic Statistical Authority) · 2025
- Household Budget Survey 2024, table T1.10: purchases and receipts in kind by age of household head (SFA05)ELSTAT · 2025
- Monades Frontidas Ilikiomenon (Elderly Care Units) - programme pageMinistry of Social Cohesion and Family, Greece · 2025
- Prosopikos Voithos gia Atoma me Anapiria (personal assistant programme)Ministry of Social Cohesion and Family, Greece · 2025
- Household Budget Survey 2023, table T1.10 (SFA05)ELSTAT · 2024
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- HICP - annual data (average index and rate of change), dataset prc_hicp_aindEurostat · 2026
- 2021 Long-Term Care Report: Trends, challenges and opportunities in an ageing society, Volume II (country profiles)European Commission (Social Protection Committee / DG EMPL) · 2021
- Greece: Options for meeting the increasing demand for elderly care needsWorld Bank · 2020
Ireland12 publications
- Health Insurance in Ireland: Market Report 2025Health Insurance Authority · 2026
- Fair Deal Scheme: financial assessmentHealth Service Executive (HSE), Ireland · 2025
- Fair Deal scheme: about the scheme, and Financial assessment: how much you pay towards careHealth Service Executive (HSE), Ireland · 2025
- Health Insurance in Ireland: Market Report 2024Health Insurance Authority (Ireland) · 2025
- Household Budget Survey 2022-2023, Results and AnalysisCentral Statistics Office (Ireland) · 2024
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Special Report 110: Nursing Homes Support Scheme (Fair Deal)Office of the Comptroller and Auditor General, Ireland · 2024
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- TILDA research offers fresh insight into how Ireland's system of caring affects older adults (Wave 5 Key Findings Report)The Irish Longitudinal Study on Ageing / Trinity College Dublin · 2020
- HICP annual average indices, dataset prc_hicp_aind (unit INX_A_AVG, 2015=100), COICOP CP00 and CP06Eurostat · 2026
- Nursing Homes Ireland Pre-Budget Submission 2026Nursing Homes Ireland (citing National Treatment Purchase Fund data) · 2025
- Over 65s pay 43% more for health insurance - report (secondary confirmation of HIA figures: EUR 2,367 over-65 vs EUR 1,648 under-65, market average EUR 1,740)RTE News · 2024
Italy9 publications
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Spese per consumi delle famiglie - COICOP 2018 (dataflow IT1,31_740), year 2024ISTAT, Italy · 2024
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- DPCM 12 gennaio 2017 (nuovi Livelli Essenziali di Assistenza), art. 30 - Assistenza sociosanitaria residenziale e semiresidenziale alle persone non autosufficientiPresidenza del Consiglio dei Ministri, Italy (text mirrored at medicoeleggi.com; official text in Gazzetta Ufficiale 18/03/2017, 17A02015) · 2017
- HICP - annual data (average index and rate of change), dataset prc_hicp_aindEurostat · 2026
- 2021 Long-Term Care Report: Trends, challenges and opportunities in an ageing society, Volume II (country profiles)European Commission (Social Protection Committee / DG EMPL) · 2021
- Inchiesta RSA: rette alte, attese lunghe e soddisfazione ferma a 6,8Altroconsumo (Euroconsumers) · 2026
- Ma la pensione basta per permettersi una badante? (5o Rapporto annuale sul lavoro domestico)Osservatorio Nazionale DOMINA sul Lavoro Domestico, Italy · 2024
- Invalidita civile: importi delle provvidenze economiche 2026 e limiti di reddito (reproducing INPS Circolare n. 153 of 19 December 2025)AIPD (Associazione Italiana Persone Down), reproducing INPS · 2026
Netherlands11 publications
- Bewonersbijdrage (Wlz)Zorginstituut Nederland · 2026
- De Wlz in 2026 / Wat kost een verpleeghuis in 2026CAK, reported via Nationale Zorggids · 2026
- Hoe berekent het CAK de hoge eigen bijdrage?CAK (Centraal Administratie Kantoor) · 2026
- Nominale premie zorgverzekeringStaat van Volksgezondheid en Zorg (VWS / RIVM), on Vektis and NZa data · 2026
- Welke 55-plussers ontvangen mantelzorg en thuiszorg?Centraal Bureau voor de Statistiek (CBS), Statistische Trends · 2026
- Eigen risico en eigen bijdrage van personen Zvw, Wmo en/of Wlz (StatLine/MLZ table 40094NED, 2015-2023)Centraal Bureau voor de Statistiek · 2024
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- Expenditure for selected health care functions by health care financing schemes (hlth_sha11_hchf)Eurostat / OECD-Eurostat-WHO System of Health Accounts · 2026
- HICP - annual data (average index and rate of change) (prc_hicp_aind)Eurostat · 2026
- Factsheet 15 jaar Zorgverzekeringswet (eigen risico by age charts)Vektis · 2020
New Zealand7 publications
- Aged residential care fundingHealth New Zealand / Te Whatu Ora · 2026
- Consumers price index: June 2026 quarter - index numbers (CPIQ.SE906 Health, CPIQ.SE9A All groups)Stats NZ · 2026
- Maximum Contribution Applying in Each Region From 1 July 2026Ministry of Health, New Zealand · 2026
- Residential Care SubsidyWork and Income, Ministry of Social Development, New Zealand · 2026
- Aotearoa Data Explorer SDMX dataflow list (HES_HES_001 to HES_HES_007)Stats NZ · 2025
- Household expenditure statistics: Year ended June 2023 - data tables, table 1Stats NZ · 2023
- New Zealand Retirement Expenditure Guidelines, Annual Update 2025New Zealand Financial Education and Research Centre (Fin-Ed Centre), Massey University · 2025
Norway12 publications
- Egenandel for opphold pa institusjon (2026 rates)Bergen kommune (Norway) · 2026
- Egenandeler for helsetjenester / egenandelstakHelfo (Helsedirektoratet), Norway · 2026
- Forskrift om egenandel for kommunale helse- og omsorgstjenester (FOR-2011-12-16-1349), kapittel 1, 3-4, as amended by FOR-2025-12-17-2619 in force 1 January 2026Lovdata / Helse- og omsorgsdepartementet (Norway) · 2026
- Statbank table 12293 (KOSTRA), Omsorgstjenester - supplerende nokkeltallStatistisk sentralbyra (SSB), Norway · 2025
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Statbank table 06946, Inntekt for husholdninger, etter husholdningstype (median)Statistisk sentralbyra (SSB), Norway · 2024
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- Harmonised index of consumer prices, annual average index, by COICOP (prc_hicp_aind, unit INX_A_AVG)Eurostat · 2025
- Persons in households with at least one person that reported a need for long-term care, by care status and household composition (ilc_ats22), EU-SILCEurostat · 2024
- Health care expenditure by financing scheme (hlth_sha11_hf) and Expenditure for selected health care functions by financing scheme (hlth_sha11_hchf), SHA 2011Eurostat · 2023
- Eurostat HBS 2020: hbs_exp_t135, hbs_str_t225 / hbs_str_t211 (CP06), hbs_car_t314, NorwayEurostat · 2020
- Self-reported use of home care services by people with severe difficulty in personal care activities, by sex and age (hlth_ehis_am7sa), EHIS wave 3Eurostat · 2019
Portugal11 publications
- Person in a care home for elderly people (custo OneValue)OneValue, Government of Portugal · 2026
- Carta Social - Rede de Servicos e Equipamentos, Resultados Globais 2023 (nota tecnica)GEP / Ministerio do Trabalho, Solidariedade e Seguranca Social, Portugal · 2024
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Inquerito as Despesas das Familias 2022/2023, Quadro 10 'Despesa total anual media por divisao da COICOP e composicao familiar'Instituto Nacional de Estatistica (INE), Portugal · 2024
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- Portaria n.º 67/2012, de 21 de marco - Estruturas Residenciais para Pessoas Idosas, arts. 1, 7 and 8Diario da Republica, 1.a serie, n.º 58, Portugal · 2012
- HICP - annual data (average index and rate of change), dataset prc_hicp_aindEurostat · 2026
- 2021 Long-Term Care Report: Trends, challenges and opportunities in an ageing society, Volume II (country profiles)European Commission (Social Protection Committee / DG EMPL) · 2021
- Lares de idosos: reformas nao chegam para pagar servicoDECO PROteste (Euroconsumers), Portugal · 2026
- Preco das camas em lares de idosos aumenta 10% em 2026Jornal Economico, reporting the Lares Online 2026 price study · 2026
- Evolucao das despesas diretas em saude em PortugalNova SBE, Catedra em Economia da Saude / Iniciativa para a Equidade Social · 2025
Spain9 publications
- Encuesta de Presupuestos Familiares, ficheros de usuario (microdata), waves 2024 and 2025Instituto Nacional de Estadistica (INE) · 2026
- IMSERSO press release on SAAD beneficiaries and the mix of benefits (prestacion economica para cuidados en el entorno familiar 31%, telecare 27%, home help 17%)IMSERSO / Ministerio de Derechos Sociales, Consumo y Agenda 2030, Spain · 2026
- Encuesta de Presupuestos Familiares 2025, table 'Gasto segun tipo de hogar' (id 73807) and 'Gasto segun sexo y edad del sustentador principal' (id 73801)Instituto Nacional de Estadistica (INE), Spain · 2025
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- Ley 39/2006, de 14 de diciembre, de Promocion de la Autonomia Personal y Atencion a las personas en situacion de dependencia (consolidated text), arts. 17, 18, 25, 33Boletin Oficial del Estado (BOE), Spain · 2006
- HICP - annual data (average index and rate of change), dataset prc_hicp_aindEurostat · 2026
- 2021 Long-Term Care Report: Trends, challenges and opportunities in an ageing society, Volume II (country profiles)European Commission (Social Protection Committee / DG EMPL) · 2021
- Informe de precios del 2025 de las residencias de mayores de EspanaInforesidencias.com · 2025
Sweden11 publications
- Avgifter inom aldre- och funktionshindersomsorg (regelverk, 2026 amounts)Socialstyrelsen (Sweden) · 2026
- Hogkostnadsskyddet januari 2026 and Patientavgifter i halso- och sjukvarden i alla regioner 2026E-halsomyndigheten and Sveriges Kommuner och Regioner (SKR) · 2026
- Kommunernas avgifter enligt socialtjanstlagen - Kartlaggning och analys (art.nr 2025-1-9412)Socialstyrelsen (Sweden) · 2025
- Household budget survey (hbs) ESMS reference metadataEurostat · 2024
- Kolada KPI N23009, Kostnad sarskilt boende aldreomsorg, kr/brukare, national (Riket)Radet for framjande av kommunala analyser (RKA) / SKR, source data SCB Rakenskapssammandraget and Socialstyrelsen individstatistik · 2024
- Structure of consumption expenditure by age of the reference person and COICOP consumption purpose (hbs_str_t225), unit PM (per 1000)Eurostat · 2020
- Harmonised index of consumer prices, annual average index, by COICOP (prc_hicp_aind, unit INX_A_AVG)Eurostat · 2025
- Persons in households with at least one person that reported a need for long-term care, by care status and household composition (ilc_ats22), EU-SILCEurostat · 2024
- Health care expenditure by financing scheme (hlth_sha11_hf) and Expenditure for selected health care functions by financing scheme (hlth_sha11_hchf), SHA 2011Eurostat · 2023
- Self-reported use of home care services by people with severe difficulty in personal care activities, by sex and age (hlth_ehis_am7sa), EHIS wave 3Eurostat · 2019
- Eurostat HBS 2015: hbs_exp_t135, hbs_str_t225 / hbs_str_t211 (CP06), hbs_car_t314, SwedenEurostat · 2015
Switzerland12 publications
- Krankenversicherung: PflegeleistungenBundesamt fuer Gesundheit (BAG) · 2026
- Krankenkassenpraemien erhoehen sich durchschnittlich um 4,4 Prozent - Kostendaempfung bleibt DaueraufgabeBundesamt fuer Gesundheit (BAG) · 2025
- Statistik der obligatorischen Krankenversicherung 2024, Tabelle T 2.11 (Kostenbeteiligung nach Altersklasse und Geschlecht)Bundesamt fuer Gesundheit (BAG) · 2025
- Haushaltsbudgeterhebung 2020-2021: Gesundheitsausgaben der Haushalte nach Alter (T20.02.01.02.11) und Haushaltsgroesse (T20.02.01.00.11)Bundesamt fuer Statistik (BFS) · 2023
- Statistik der obligatorischen Krankenversicherung 2021, Tabelle T 2.11Bundesamt fuer Gesundheit (BAG) · 2023
- Haushaltsbudgeterhebung 2015-2017: Kommentierte Ergebnisse und TabellenBundesamt fuer Statistik (BFS) · 2022
- Haushaltsbudgeterhebung, table T20.02.01.00.11: Haushaltseinkommen und -ausgaben nach Altersklasse der Referenzperson, wave 2020-2021 (je-d-20.02.01.00.11.xlsx)Bundesamt fuer Statistik (BFS) · 2021
- Haushaltsbudgeterhebung, table T20.02.01.02.11: Detaillierte Haushaltsausgaben nach Altersklasse der Referenzperson, wave 2020-2021 (je-d-20.02.01.02.11.xlsx)Bundesamt fuer Statistik (BFS) · 2021
- Preisvergleich Betreuungs- und Aufenthaltstaxen von Schweizer Alters- und PflegeheimenPreisueberwachung (PUE), Eidgenoessisches Departement fuer Wirtschaft, Bildung und Forschung · 2018
- Expenditure for selected health care functions by health care financing schemes (hlth_sha11_hchf)Eurostat / OECD-Eurostat-WHO System of Health Accounts · 2026
- HICP - annual data (average index and rate of change) (prc_hicp_aind)Eurostat · 2026
- Faktenblatt: Pflegefinanzierung in der Schweiz (Daten 2024)CURAVIVA / ARTISET, on BFS Statistik der sozialmedizinischen Institutionen (SOMED) 2024 definitive Standardtabellen · 2025
United Kingdom16 publications
- CPI INDEX 06: HEALTH 2015=100 (series D7BZ) and CPI INDEX 00: ALL ITEMS 2015=100 (series D7BT)Office for National Statistics · 2026
- Family spending in the UK, Workbook 2: expenditure by income, Table A15 (HRP aged 65 and under 75)Office for National Statistics · 2026
- Increased funding for care homes providing nursing (NHS-funded Nursing Care standard rate)Department of Health and Social Care (GOV.UK) · 2026
- Family Spending in the UK, Workbook 1, table A1: Detailed expenditure with full-method standard errors, financial year ending 2025Office for National Statistics · 2025
- Family Spending in the UK, Workbook 2: Expenditure by income, tables A15 (HRP aged 65 to 74) and A16 (HRP aged 75 or over), financial year ending 2025Office for National Statistics · 2025
- Family Spending in the UK, Workbook 5: Housing, table 2.4 Housing expenditure by age of household reference person, financial year ending 2025Office for National Statistics · 2025
- Free Personal and Nursing Care: methodology and background information 2024-25, Appendix 1 FPNC payment amountsScottish Government (gov.scot) · 2025
- Social care: charging for care and support 2025 to 2026 (local authority circular)Department of Health and Social Care (GOV.UK) · 2025
- Introducing a cap on care costs (research briefing CBP-9315) and Social care: announcements delaying the introduction of funding reforms (CBP-7265)House of Commons Library · 2024
- The future of care needs: a whole systems approachJoseph Rowntree Foundation · 2024
- Family Spending in the UK, Workbook 1, table A11: Detailed household expenditure by age of household reference person, financial year ending 2022Office for National Statistics · 2022
- Care homes market study: summary of final reportCompetition and Markets Authority (GOV.UK) · 2017
- Care Homes for Older People UK Market Report, 36th editionLaingBuisson · 2026
- Paying for care at home: cost of home care serviceshomecare.co.uk / Homecare Association · 2026
- Care home fees and costs: how much do you pay?carehome.co.uk · 2025
- New data reveals stark regional differences in care home costs for self-fundersCare Home Magazine · 2025
United States20 publications
- Medicare Supplement Rate Guide, rates as of January 1, 2026Maryland Insurance Administration · 2026
- Medigap Rate Shopper Tool (Plan G, all carriers, every age 65 to 95-and-over)Missouri Department of Commerce and Insurance · 2026
- QHP Landscape PY2026 Individual Medical, public use file (dataset 6fe7fb77-7291-4104-952f-7c7e2c5d0c45)CMS / CCIIO via data.healthcare.gov · 2026
- 2026 Medicare Parts A & B Premiums and DeductiblesCenters for Medicare & Medicaid Services · 2025
- Annual Release of Part D National Average Monthly Bid Amount and Other Part C & D Bid Information for CY2026Centers for Medicare & Medicaid Services · 2025
- Consumer Price Index for All Urban Consumers: Medical care (CUUR0000SAM) and All items (CUUR0000SA0), annual averagesUS Bureau of Labor Statistics · 2025
- Medicare Program; Medicare Part B Monthly Actuarial Rates, Premium Rates, and Annual Deductible Beginning January 1, 2026Federal Register (CMS-8089-N) · 2025
- Consumer Expenditure Surveys 2024, consumer units with reference person 65-74 (series CXUHEALTHLB0408M, CXUHLTHINSRLB0408M, CXU980040LB0408M, CXU980060LB0408M)US Bureau of Labor Statistics · 2024
- Consumer Expenditure Surveys, 2024 annual data (series CXUHEALTHLB0408M, CXUHLTHINSRLB0408M, CXU980040LB0408M, CXU980060LB0408M)US Bureau of Labor Statistics · 2024
- Consumer Expenditure Surveys, Table 1300: Age of reference person - annual expenditure means, shares, standard errors and relative standard errors, 2024U.S. Bureau of Labor Statistics · 2024
- Consumer Expenditure Surveys, Table 2500: All consumer units - detailed annual expenditure means, 2024U.S. Bureau of Labor Statistics · 2024
- National Health Expenditure Accounts: Health Expenditures by Age and Sex, data year 2020CMS Office of the Actuary · 2023
- Long-Term Services and Supports for Older Americans: Risks and Financing, 2022 Research BriefUS Department of Health and Human Services, Office of the Assistant Secretary for Planning and Evaluation (ASPE), with the Urban Institute · 2022
- Medicare Supplement Premium Comparison Guide 2022-23 (Northern/Central and Southern Illinois editions)Illinois SHIP, Illinois Department on Aging · 2022
- 2017 Medicare Supplement Comparison GuideLouisiana Department of Insurance, SHIIP · 2017
- Insurance Standards Bulletin Series: Guidance Regarding Age Curves and State Reporting, Appendix I (federal default standard age curve)CMS / CCIIO · 2016
- CareScout Releases 2025 Cost of Care Survey ResultsGenworth Financial / CareScout · 2025
- Senior care rates balloon in every state: CareScout report / 10 Cheapest States for Long-Term Care: 2025McKnight's Senior Living; ThinkAdvisor · 2026
- Marketplace Average Benchmark Premiums (state health facts indicator)KFF · 2026
- A Snapshot of Sources of Coverage Among Medicare BeneficiariesKFF · 2025
7. Job loss
Job-loss risk is opt-in and off by default. When it is off, it is fully off: no unemployment shocks are simulated and contributions are never scaled by employment state. When you switch it on, an after-tax employment income is required for every person still working. Unemployment is modeled as the loss of that income’s expense coverage: the year’s drain on the portfolio is your expenses minus whatever household income remains, capped at the lost salary. The unemployed year runs through the same withdrawal and spending-cut machinery as any tight retirement year.
With the toggle on, an earner faces an annual risk of losing their job before retirement. The risk rises with age, because older workers are displaced more often and re-hired more slowly:
When a shock hits, it is either permanent (about a third of the time), meaning employment and contributions stop for good in an early forced retirement, or temporary. A temporary spell lasts a short, randomly drawn number of years, during which employment income stops entirely, after which the person returns to work.
Re-employment carries a lasting penalty: wage scarring. Each temporary spell permanently reduces earning power by a fixed fraction, and repeated spells compound (two spells leave roughly three-quarters of the original wage). Permanent losses end earnings outright.
One caveat to know about: the drain uses your retirement-plan expense estimate as the working-age burn rate, because the model has no separate “spending while working” input. It is a documented approximation, not a bug.
| Parameter | Default | Meaning |
|---|---|---|
| Enabled | off | Opt-in; off means no shocks and no contribution scaling |
| Permanent share | 35%of shocks | Fraction of shocks that end employment for good |
| Temporary spell length | ~0.75years (avg) | Average unemployment duration, rounded up to ≥1 year |
| Wage scar | 15%per spell | Permanent earnings reduction on re-employment, compounding |
8. Expenses
Spending is built from seven independent buckets, each computed at that year’s prices and then summed. Three inflation series drive them: general inflation, medical inflation (general plus a premium, default +1.8%), and home inflation (general plus a premium, default +0.5%).
Essential: food, utilities, and basics. Flat in real terms: it simply tracks general inflation.
Housing: either rent, which tracks general inflation, or ownership, which sums the mortgage payment (fixed in cash terms, ending when the mortgage is paid off), maintenance and property tax (each a fraction of the home’s value, which itself grows with home inflation), and home insurance (rising about 1% per year above general inflation).
Healthcare: a base cost at age 65 that grows with medical inflation and moves with age along a calibrated cost-by-age curve. The input step asks for this per person and counts it once per partner for couples; the figure it prefills is each country’s out-of-pocket healthcare spend per person at 65, on one defined basis: costs the household pays directly, including insurance premiums it pays itself, excluding anything already withheld from a pension before it lands, and excluding long-term care, which has its own bucket (§6). Published statistics rarely arrive on that basis, so each figure is normalized and the method recorded: figures published per household are divided by the official household size of the surveyed group, and figures published as all-ages averages are raised by the official age profile of health spending. This is why the prefill spans a wide range across countries: where premiums are withheld from pensions at source the direct figure is small, and where households pay premiums themselves it is large.
The curve itself is measured per country where a source exists. Fifteen countries carry their own, taken from the country’s household budget survey, its insurers’ administrative statistics or its regulators’ published rate tables, and the measured shapes disagree with the old one-curve-for-everyone assumption in a consistent direction: where the state caps patient fees or cover is priced the same at every age, a retired household’s own late-life spending rises gently into the early 80s and then levels off, and in Austria it measurably falls back after 80. Each curve’s source, arithmetic and open questions live in that country’s data file, and the publications behind it appear in the country’s reference list on the country pages. The five countries where no official source splits late-life spending by age (Norway, Sweden, Italy, Belgium and New Zealand) share a fallback curve calibrated so its late-life rise matches the US health accounts with long-term care removed; the evidence from their measurable neighbours suggests even that overstates them slightly, and the routes tried are recorded so the next attempt does not repeat them. In every country with its own curve, a couple’s healthcare is billed at each partner’s own age.
The United States has its own curve, and it falls at 65 and climbs again after. A retiree there buys their own cover until Medicare begins, at a premium the law prices by age, so the years just before 65 cost several times the years just after: the US curve carries that step exactly, billed at each partner’s own age for couples. After 65 the curve keeps rising, about a third by 95, because the top-up cover most American retirees buy alongside Medicare is priced by attained age in most policies; the slope is taken from four state insurance regulators’ published rate tables. The premium the pre-65 half prices is the full sticker price, and the government help with it is handled where the law puts it, in the tax bill: while household income stays under a cap the plan receives a credit against the benchmark plan’s premium, priced against every withdrawal decision, and one dollar of income above the cap removes the entire year’s help. The accounts step asks what the benchmark plan costs where you live, prefilled with the national average for your ages; the tax page records what the credit model simplifies.
What a retired household spends
The essential and discretionary prefills come from each country’s best retiree budget source: a published retirement budget standard where one exists, otherwise the national household budget survey’s retired-household tables. Every figure is decomposed into the app’s buckets, excluding housing and healthcare which are collected separately, and each country’s data file records exactly which survey categories went where.
| Country | Single, essential + discretionary | Couple, essential + discretionary | Healthcare at 65, per person | Where the figures come from |
|---|---|---|---|---|
| Australia | A$2,552 + A$993/mo | A$3,452 + A$1,496/mo | A$2,365/yrsource | ASFA Retirement Standard, Comfortable lifestyle, homeowners aged 65-84, March quarter 2026source |
| Austria | €1,406 + €423/mo | €2,109 + €635/mo (derived) | €1,419/yrsource | Statistik Austria Konsumerhebung 2024/25, Einpersonenhaushalt 60 Jahre und aelter (monthly Verbrauchsausgaben, detailed results published 2026-03-04)source |
| Belgium | €1,377 + €435/mo | €2,066 + €653/mo (derived) | €1,795/yrsource | Statbel Huishoudbudgetonderzoek (HBS) 2024, TAB04_BE group 'Alleen ouderen' (households consisting only of persons 65+), published 2 Sep 2025source |
| Canada | CA$1,290 + CA$530/mo | CA$1,936 + CA$795/mo (derived) | CA$1,804/yrsource | Statistics Canada, Survey of Household Spending 2023: table 11-10-0227-01 (age of reference person 65+) decomposed by household size using table 11-10-0224-01 (household type)source |
| Denmark | DKK 9,750 + DKK 2,763/mo | DKK 18,469 + DKK 6,479/mo | DKK 8,271/yrsource | Danmarks Statistik Forbrugsundersogelsen, StatBank FU03 2022, enlig 60 ar og over uden born / 2 voksne hovedperson 60+ uden born (annual DKK per household incl VAT, current prices)source |
| Finland | €612 + €48/mo | €1,077 + €97/mo | €1,100/yrsource | Kohtuullisen minimin viitebudjetit 2025 (University of Helsinki / Kuluttajatutkimuskeskus reference budgets for a decent minimum, published 19.11.2025), single 65+ (man/woman averaged) and couple 65+, rest-of-Finland variantsource |
| France | €1,035 + €335/mo | €1,552 + €502/mo (derived) | €1,691/yrsource | Enquete Budget de famille 2017 (Insee Resultats 'Les depenses des menages en 2017'), table TF102: depenses annuelles moyennes par menage, personne de reference 65-74 ans (all household sizes)source |
| Germany | €935 + €319/mo | €1,403 + €479/mo (derived) | €523/yrsource | EVS 2023 (Einkommens- und Verbrauchsstichprobe), Konsumausgaben privater Haushalte, soziale Stellung der Haupteinkommensperson: 'Nichterwerbstaetige: im Ruhestand' (retiree households, all household sizes)source |
| Greece | €597 + €101/mo | €896 + €151/mo (derived) | €1,096/yrsource | ELSTAT Household Budget Survey 2024, one-person household aged 65+ (monthly purchases per household, COICOP 2018, English-edition tables T1.05/T1.10)source |
| Ireland | €976 + €261/mo | €1,293 + €391/mo | €2,367/yrsource | MESL 2026 (Minimum Essential Standard of Living), Older Adult living alone / Older Couple, URBAN, Vincentian MESL Research Centre at SVPsource |
| Italy | €896 + €110/mo | €1,504 + €231/mo | €1,234/yrsource | Istat Spese per consumi delle famiglie 2024, persona sola 65 anni e piu / coppia senza figli con p.r. 65 anni e piu (mean monthly EUR per household, COICOP 2018, published 2025-10-07)source |
| Netherlands | €955 + €287/mo | €1,604 + €470/mo | €2,514/yrsource | CBS Budgetonderzoek 2020 (StatLine 83678NED amounts x 83679NED detailed shares), household types 'Alleenstaande man/vrouw vanaf AOW-leeftijd' and 'Paar zonder kind, vanaf AOW-leeftijd'source |
| New Zealand | NZ$1,809 + NZ$666/mo | NZ$4,968 + NZ$1,225/mo | NZ$1,409/yrsource | NZ Retirement Expenditure Guidelines 2025 (Massey University NZ Fin-Ed Centre), Choices budget, Metropolitan, one-person and two-person householdssource |
| Norway | NOK 13,524 + NOK 1,080/mo | NOK 20,983 + NOK 2,160/mo | NOK 18,653/yrsource | SIFO Referansebudsjett 2026 (OsloMet, prices Feb 2026, 70+ rows), plus SSB Forbruksundersokelsen 2022 (StatBank 14227 single 65+, 14152 couple) for utilities, housing and healthcaresource |
| Portugal | €511 + €120/mo | €861 + €187/mo | €757/yrsource | INE Portugal IDEF 2022/2023 (Inquerito as Despesas das Familias), agregado '1 adulto idoso' 65+ / '2 ou mais adultos pelo menos 1 idoso' (annual EUR per household, COICOP 2018)source |
| Spain | €911 + €177/mo | €1,367 + €266/mo (derived) | €1,009/yrsource | INE Encuesta de Presupuestos Familiares (EPF) 2025, hogar de una sola persona de 65 o mas anos (COICOP 2018/EPF, annual EUR per household, published 2026-06-25)source |
| Sweden | SEK 6,545 + SEK 1,200/mo | SEK 11,140 + SEK 1,810/mo | SEK 12,918/yrsource | Konsumentverket Hushallskostnader 2026 reference budget (71+ rows), plus SCB Boendeutgifter 2024 for housing and SCB HUT 2021 for healthcaresource |
| Switzerland | CHF 1,440 + CHF 613/mo | CHF 2,729 + CHF 1,134/mo | CHF 7,290/yrsource | BFS HABE (Haushaltsbudgeterhebung) 2020-2021 pool, Einpersonenhaushalte ab 65 Jahren / Paare ab 65 Jahren ohne Kinder (mean CHF per household per month)source |
| United Kingdom | £1,470 + £984/mo | £1,921 + £1,475/mo | £367/yrsource | PLSA/CRSP Retirement Living Standards, Moderate tier, outside London (2026 update, 'RLS 2025 uprated' budgets)source |
| United States | $1,489 + $611/mo | $2,686 + $1,283/mo | $5,511/yrsource | BLS Consumer Expenditure Surveys, cross-tabulated Table 3600 (consumer units of one person by age of reference person) and Table 3620 (consumer units of two people by age), '65 years and older' column, 2023-2024 two-year averagesource |
For the country-shaped view of these prefills, with their published basis spelled out, see your country’s page.
The free tier collects one number instead of buckets and splits it using per-country shares derived from the same budget data (the schema’s global split of 55% essential / 15% housing / 10% healthcare / 20% discretionary remains only as the fallback when a country supplies none).
Discretionary: travel and leisure. Tracks general inflation but tapers with age along an S-shaped curve, settling toward a floor as activity declines in later years:
with a floor (default 5%), a midpoint age (default 80), and a steepness .
Long-term care: the care cost from §6, active only during a care episode.
One-off: planned, dated events (a new roof, a wedding), entered in today’s or fixed euros and applied in their year.
Family support: recurring help to family over a chosen age range, tracking inflation with an optional real growth rate.
Home equity as a last resort
For homeowners, the plan can treat the home as a final backstop. It is on by default, with a toggle on the Housing step. If a year arrives where income plus the entire remaining portfolio, after the tax that liquidating it would trigger, cannot fund the survival floor, the home is sold instead of the plan failing: the sale realises that year’s home value less a haircut (default 10%, covering transaction costs and the urgency discount), any remaining mortgage is settled out of the proceeds (its balance estimated as the present value of the remaining payments at an assumed 5% rate), and the rest joins the portfolio. From the following year the household rents: the rent equivalent defaults to the home’s value times a per-country gross rent yield (5% US, 4% GR), rising with general inflation, unless you set an explicit monthly rent instead. The plan counts as failed only if the floor is still unfundable after the sale.
The model is deliberately simple, and one-way. There is no buying back in, no downsizing or partial sale, no reverse mortgage; the home’s value follows its deterministic inflation drift, and the post-sale rent derives from the home’s value today rather than its (per-path) value at sale. Sale proceeds, once in the portfolio, are taxed like any other withdrawal when spent, which is conservative for a primary residence in most jurisdictions. Because the household sells only at the brink of insolvency, real households would typically act earlier; the fallback is a floor on how bad things get, not a strategy.
On the results page the sale shows up three ways: a sentence under the headline (“in X% of futures the home is sold, median age Y”), a marker on the portfolio chart at the median sale age, and a “plus home equity” note beside what’s left at the end. That figure itself stays portfolio-only. An unsold home is shown as context, never added to it.
| Parameter | Default | Meaning |
|---|---|---|
| Medical inflation premium | +1.8%per year | Medical inflation above general inflation |
| Home inflation premium | +0.5%per year | Home-value inflation above general inflation |
| Maintenance | 1%of home / yr | Annual upkeep as a share of home value |
| Property tax | 0.3% (GR) / 1.2% (US)of home / yr | Annual property tax as a share of home value |
| Home-sale haircut | 10%of sale price | Transaction costs + urgency discount when the fallback sells the home |
| Post-sale rent yield | 5% (US) / 4% (GR)of home / yr | Gross yield deriving the rent equivalent after a fallback sale |
| Discretionary floor | 5%of base | Lower limit the discretionary taper settles toward |
| Essential floor | 80%of base | Most essentials can be trimmed under stress |
9. Spending cuts under stress
When income plus the most the withdrawal rule allows cannot cover the year’s expenses, the household trims spending. Not all spending can be cut, though, and the order matters. The model cuts in priority, taking as much as it can from each before moving on:
- Discretionary, down to its floor (a small fraction of the base).
- Family support, down to zero.
- One-off expenses, deferred or cancelled.
- Essential, down to its floor (by default, no more than a 20% trim).
Housing, healthcare, and long-term care cannot be cut: these are obligations. Whatever shortfall remains after exhausting the cuttable buckets is a forced shortfall: spending the household needed but could not fund. Because the floors above define the minimum the household can survive on, a forced shortfall arises only when a path has genuinely run out of money. It is the signature of a ruined year. For homeowners with the home-equity fallback on (§8), one more thing happens before that verdict: the home is sold, and ruin is declared only if the floor is still unfundable with the proceeds in hand.
10. Income
Each income stream carries its own basis: you say whether the amount you entered is before tax or after tax, and the model routes it accordingly (§12). “Real growth” always means growth above general inflation. The model tracks six kinds of income.
Employment: salary, growing with inflation plus a real raise, gated by whether the person is working and scaled by any wage scarring, and ending at retirement:
Pensions: up to four streams (each partner’s main and supplementary). Each begins at its own start age and is indexed one of five ways: by full inflation, by inflation plus or minus a fixed margin, by inflation capped at a ceiling, at a fixed annual rate, or by a custom schedule. Indexation begins the year after the pension starts; before the start age the entered amount is uprated with full inflation so it keeps its purchasing power.
The margin mode exists because most countries’ statutes are not plain price indexation: wage-linked systems and guarantee rules have historically run above prices, and some capped or conditional rules have run below them. The input step’s default, “as your country’s pensions do”, writes the researched rule for the selected country; the margin for each country is calibrated against its realized uprating history over the last fifteen to twenty-five years, and the evidence window is recorded in the data file. The default start age is likewise the country’s fully phased-in state pension age, not a global constant.
| Country | Pension age | How payments rise | What the survivor keeps |
|---|---|---|---|
| Australia | 67 | With inflation, plus 0.8 points a yearsource | 33% of the deceased's pensionsource |
| Austria | 65 | With inflationsource | 40% of the deceased's pensionsource |
| Belgium | 67 | With inflationsource | 10% of the deceased's pensionsource |
| Canada | 65 | With inflationsource | 60% of the deceased's pensionsource |
| Denmark | 70 | With inflation, plus 0.5 points a yearsource | 35% of the deceased's pensionsource |
| Finland | 67 | With inflation, plus 0.2 points a yearsource | 25% of the deceased's pensionsource |
| France | 64 | With inflation, minus 0.4 points a yearsource | 54% of the deceased's pensionsource |
| Germany | 67 | With inflation, plus 0.2 points a yearsource | 55% of the deceased's pensionsource |
| Greece | 67 | With inflation, minus 0.5 points a yearsource | 35% of the deceased's pensionsource |
| Ireland | 66 | With inflationsource | Keeps the larger of the two pensionssource |
| Italy | 68 | With inflationsource | 60% of the deceased's pensionsource |
| Netherlands | 68 | With inflation, plus 0.5 points a yearsource | 46% of the deceased's pensionsource |
| New Zealand | 65 | With inflation, plus 1.0 points a yearsource | 30% of the deceased's pensionsource |
| Norway | 68 | With inflation, plus 0.3 points a yearsource | Nothing passes onsource |
| Portugal | 68 | With inflationsource | 60% of the deceased's pensionsource |
| Spain | 67 | With inflationsource | 52% of the deceased's pensionsource |
| Sweden | 68 | With inflation, minus 0.4 points a yearsource | Nothing passes onsource |
| Switzerland | 65 | With inflation, plus 0.3 points a yearsource | 30% of the deceased's pensionsource |
| United Kingdom | 68 | With inflation, plus 1.0 points a yearsource | Nothing passes onsource |
| United States | 67 | With inflationsource | Keeps the larger of the two pensionssource |
Each of these rules is also explained in words, with its statute and sources, on your country’s page.
Supplementary pensions get none of these defaults: workplace and private schemes are contracts, so they start on plain inflation indexation with a neutral 50% survivor share, and your plan statement is the source that matters.
Rental: net rental income that grows with inflation plus real growth and is scaled by a constant occupancy rate; an expected maintenance cost (a fraction of a month’s rent per year, from the chance and size of repairs) subtracts from it. In extreme settings the net can go negative, and it is treated as a cash flow rather than floored at zero.
Lump sums: dated one-off receipts (an inheritance, a property sale), in today’s or fixed euros.
Other: any recurring income over a chosen age range, with optional real growth.
| Parameter | Default | Meaning |
|---|---|---|
| Real wage growth | +1%per year | Salary growth above inflation |
| Pension indexation cap | 2%per year | Ceiling when capped-inflation indexation is chosen |
| Rental occupancy | 90% | Constant occupancy rate |
| Maintenance cost | 5% chance × 3 monthsper year | Expected repair cost, deducted every year in months of rent |
11. Withdrawal strategies
In drawdown, a withdrawal rule sets a ceiling on how much may be taken from the portfolio each year. It does not generate spending. Your expense plan drives what the household actually spends; the rule only caps how much of it the portfolio will fund before spending cuts kick in. The model offers three ceilings; all are then subject to a survival override (below).
Constant-real (the “4% rule”)
The classic Bengen rule. The first year’s withdrawal is a fixed percentage (default 4%) of the balance at retirement, and that amount thereafter only keeps pace with inflation. It does not rise or fall with the portfolio:
Constant-percentage
A fixed percentage of the current balance each year. Spending rises and falls directly with the portfolio.
Variable percentage withdrawal (VPW)
Each year’s withdrawal is the share of the current balance that an annuity over the remaining horizon would pay out, given an assumed real return:
The assumed return is a blend of equity and bond real-return assumptions at the current allocation, so it drifts as a glidepath de-risks. The withdrawal share is capped from age 85 on. VPW spends more as the balance grows and pulls back when it shrinks, and rises naturally with age as the horizon shortens.
The survival override
Whatever the rule proposes, the household must still cover its hard floor, the irreducible minimum left after every allowed spending cut: floored essentials, all housing, healthcare, any care costs, and the discretionary floor.
If meeting this floor requires more than the rule allows, the model overrides the rule upward and takes what is needed. The actual withdrawal is therefore the larger of “what the rule advises” and “what survival demands,” grossed up for the tax the withdrawal itself causes (§12) and capped at the balance. A path is ruined in the first year its income plus its entire remaining portfolio cannot meet the hard floor.
One subtlety: the ceiling is stated after tax, so it caps what lands in your pocket, not what leaves the portfolio. The gross draw that clears a given ceiling is therefore the solution of , which §12 solves exactly rather than dividing by one minus a rate.
| Parameter | Default | Meaning |
|---|---|---|
| Initial rate | 4% | Starting withdrawal rate for constant-real / constant-% |
| VPW assumed return | 5% eq / 1.9% bondabove inflation | Return assumptions above inflation in the annuity factor |
12. Tax
Tax is computed inside the year loop, on that year’s actual position, against the rules of the country in the plan. It is not a rate applied to the draw. Twenty countries are modelled; the tax page sets out country by country what each one covers and what it does not.
The year’s position
Each simulated year builds one household position: every income stream at its stated basis (before or after tax, per stream), the portfolio split into three account kinds, its cost basis, this year’s asset mix and this year’s returns. From it a country rule produces two quantities:
- , a charge on the balance, independent of every decision the household makes that year. Wealth taxes and assumed-yield charges live here. Eleven of the twenty countries have one.
- , the income tax at a gross withdrawal of , which is the whole household bill at that draw and not the increment over drawing nothing.
The two are billed differently, and the split follows from the order the year loop has to run in. A spending bucket must be known before the withdrawal is solved, which is and is not. So the balance charge becomes a genuine eighth bucket and the income tax is netted out of income, leaving the whole gap, ceiling, cuts and ruin chain in the after-tax terms it has always used. That is arithmetically the same as billing both, and it keeps the solve in one place.
The tax bucket is exempt from the spending-cut cascade (§9): you cannot cut your tax bill, and letting the cascade shave it would understate ruin. The figure reported on the results page is neither of the two above on its own but the whole household bill at the draw actually taken, which is the number you would recognise from a tax return.
The gross-up, solved exactly
The engine needs the inverse: the draw that leaves a required amount in hand. Two properties make it cheap. Marginal rates are always below 100%, so is increasing; and a tax scale is piecewise-polynomial, so the function is made of smooth segments.
Each country returns its own analytic alongside , so a Newton step costs one evaluation rather than the two a numerical derivative needs. The slope between segment boundaries is not monotone (a realistic United States position has sixteen corners inside a 300,000 range), so plain Newton can alternate across a corner instead of converging. The solve is therefore bracketed, taking the Newton step when it stays inside the bracket and bisecting when it does not. Both ends of the bracket are free: the low end is a zero draw, already evaluated for the year, and the high end follows from the floor on the slope. Three iterations plus a final linear correction land exactly on a piecewise-linear segment.
Accounts, cost basis and the asset mix
The portfolio is split three ways, and the split changes the bill by more than any rate does.
| Parameter | Default | Meaning |
|---|---|---|
| Tax-free | invisible | Nothing while held, nothing on withdrawal, and absent from every threshold. That last part is most of its value. |
| Tax-deferred | ordinary income | Nothing while held; the whole withdrawal is income in the year it is taken, unless the country charges it at a set rate instead. |
| Taxable | as it arises, then on the gain | Distributions or an assumed yield each year, then the profit portion on sale. The only sleeve where the asset mix matters. |
Withdrawals are split across the three sleeves pro rata, in the configured proportions. Ordering, where a household empties one account before touching the next, is a real strategy and is not modelled; the reported bill is the neutral no-strategy case.
Cost basis is tracked rather than assumed: one per-path array, seeded from the starting portfolio, increased by contributions and by income taxed as it arises, and reduced pro rata on withdrawal. Crediting taxed income to the basis is not a refinement. The balance update compounds a total return, so distributions are implicitly reinvested; taxing them without crediting them would tax the same money again as a gain on sale.
Within the taxable sleeve, interest, dividends and gains are charged at the rates their country actually applies to each, using the plan’s asset weights.
What you hold inside that account can change the bill by more than any rate does, so where a country taxes two instruments differently, the Detailed view asks. Greece charges nothing on a European fund and 15% on a bank deposit. The Netherlands puts a savings account and a money-market fund in different statutory categories and charges them almost five times apart. Every menu is prefilled with the instrument that country’s own tax literature says people actually hold, so leaving it alone gives you the same answer as before the question existed.
Most countries are asked nothing, and that is a finding rather than a gap. A Dutch retiree can hold an Irish fund, an American one, a Dutch one or individual shares and the charge on their shares and bonds is identical, because it falls on what you hold and not on what it pays you. The United States is the same once both sides are counted: tax-exempt municipal bonds do cut the bill, but the market prices that exemption into a lower yield, and this model has no way to charge you the lower yield. Showing you one half of that trade would be worse than showing you neither.
Roth conversions (United States)
A premium United States plan can carry a conversion schedule: a yearly amount, in today’s money, moved from the tax-deferred sleeve into the tax-free one across a chosen age window. The move executes at the top of each simulated year, before that year’s tax context is built, and it is capped at what the deferred sleeve holds above the year’s required minimum, because the law makes the required withdrawal come out first. The moved amount is ordinary income in the year it moves and nothing else: it is not spendable cash, so the solver funds its tax with a correspondingly larger withdrawal, under whatever account order the plan uses. Everything downstream reprices on its own, because it all reads the same income: the taxable share of Social Security, the stacking of investment income, the deduction taper for 65 and over, the pre-65 health-cover help and its cap, the Medicare surcharge two years later, and every future required minimum, which shrinks because the account it is computed on shrank.
The five-year rule is charged. Money converted while under the access age skips the 10% early charge on the way in, and each year’s conversion then carries its own five-tax-year clock; taking converted money back out before its clock has run pays the 10% after all. The engine tracks each vintage separately, lets money out oldest first, and treats the Roth balance the plan started with, plus later contributions, as never clocked. All of these amounts are tracked in the money of the year they moved, deliberately: growth inside the Roth never shortens a clock. Two edges are approximate and both are disclosed where they bite: earnings drawn past every clocked and unclocked dollar before the access age owe only the 10% here, where the law would also income-tax them, and the deferred sleeve is assumed never to contain after-tax contributions, which where false overstates the conversion’s tax.
Two more deliberate positions. The schedule converts on every surviving, solvent path, crash years included: a real household might pause, but a schedule that quietly paused in bad years would make the comparison against not converting dishonest. And the product ships no optimiser and no fill-to-bracket mode: the cost of the next converted dollar is not monotone, so the results page draws the cost curve with its steps named and compares whole schedules on identical futures instead of asserting a stopping point.
Thresholds over time
Whether a bracket or an allowance keeps pace with inflation is researched per parameter and per year, not assumed per country: United States brackets are indexed while the thresholds that decide how much of Social Security is taxable have been frozen since 1983. Where a freeze has a statutory end date the projection uses it, so the United Kingdom’s personal allowance stands still through 2030/31 and then tracks prices, because the annual uprating duty is suspended for named years rather than repealed. The default follows the research. Two overrides let you stress it either way, assuming every threshold keeps pace or that none of them moves.
| Parameter | Default | Meaning |
|---|---|---|
| Mode | country | "country" uses the modelled rules; "flat" falls back to a single rate on the draw; "off" treats every amount as already after tax |
| Threshold indexation | researched | "researched" follows each parameter's own history, including a statutory end date on a freeze; "full" and "frozen" are the two stress tests |
| Withdrawal order | proportional | "proportional" draws a bit of each account by the configured split; "taxable_first" drains the ordinary account first and the tax-free pot last; "deferred_first" drains the tax-deferred account first. Enforced in the shared composition layer, so every modelled country honours every order |
| Flat-mode rate | 0% | The override rate, used only when mode is "flat". Applies to the whole draw, not the gain |
| Assumed dividend yield | 1.6% | The income share of the equity return, needed because dividends and gains carry different rates in most countries |
13. Sensitivity analysis
Sensitivity analysis answers: of the things you could change, which ones move your outcome the most? It works by varying your inputs (starting portfolio, contributions, retirement age, and so on) within plausible bands around your actual plan, and measuring how much each one drives the variation in an outcome such as success probability.
The method is Sobol’ variance decomposition. Inputs are varied together using a low-discrepancy sampling design that covers the space efficiently, and the model reports two numbers per input. The first-order index is how much of the outcome’s variation that input explains on its own; the total-effect index adds its variation through interactions with other inputs:
A key technique makes this reliable: every input combination is evaluated against the same set of random market and lifespan draws, so the differences in outcome reflect the input change, not luck. Without it, the sensitivity signal would be drowned in Monte Carlo noise.
Three tiers vary more inputs at higher tiers, and the one your plan gets is chosen for you: the smallest set that still covers everything your plan actually uses. Nothing is asked of you here, and there is nothing to trade off. Inputs your plan leaves empty, such as a mortgage you do not have, are skipped rather than ranked, so they cost you no waiting and produce no empty bar.
| Parameter | Default | Meaning |
|---|---|---|
| Low | 7 inputs | Portfolio, contributions, retirement age, expenses, pension, care cost, equity weight |
| Medium | 10 inputs | Adds withdrawal rate, where your savings sit, healthcare cost |
| High | 13 inputs | Adds supplementary pension, wage growth, mortgage |
14. Failure-mode attribution
When a plan fails, this analysis asks which risk caused it. It works by replaying each failed path with one risk at a time switched off, holding everything else identical, and checking whether the path now survives. A path that survives once a given risk is removed was, in part, sunk by that risk.
Five risks are tested, each neutralized in a natural way:
- Long-term care: no care episode ever begins: the costs disappear, but so does care’s shortening of life (§6), so the “no care” path also lives longer. The channel measures the honest net effect.
- Job loss: no employment shock occurs.
- Longevity: nobody lives unusually long (lifespans capped at their typical value).
- Market returns: returns replaced by their average.
- Inflation: inflation held at its average.
Counting how often each risk rescues a failed path gives its share of the blame. Two further figures fall out: failures that survive only when two or more risks are removed are over-determined (no single fix would have saved them), and failures that survive even with every risk removed are structural: the plan was simply under-funded, not unlucky.
15. Counterfactuals
A counterfactual answers “what if you changed one thing?” and shows the effect on your plan. The model runs each change against the same random futures as your baseline, so the difference is attributable to the change alone, not to luck.
The changes are chosen for you, adaptively. The model takes the inputs that the sensitivity analysis found matter most, keeps those that map to an action you can actually take, and skips changes that wouldn’t apply (suggesting “save more” when you’re already retired, for instance). The standard levers are saving more each month, retiring later, shifting your equity weight, and insuring against care costs. Up to four are shown, ordered by how much they move your success probability.
For each, three differences from your baseline are reported:
The changes themselves are evaluated on the full model, so couples and every withdrawal rule are handled correctly.
16. Sustainable spending
This answers the planning question in reverse: how much could you spend each month and still hit your target success probability (90% by default)? Rather than reporting the success of one spending level, the model searches for the spending level that lands on the target.
It does so by bisection, repeatedly testing a spending level and then narrowing: if that level is still safe, try higher; if it fails, try lower; converge on the boundary. The search is bracketed first (does your current spending already pass, and is even zero discretionary spending fundable?), then halved a handful of times until the answer is pinned to within about €25/month. If even cutting discretionary spending to nothing cannot reach the target, the unavoidable bills already exceed what your income and portfolio can support, and the model says so rather than returning a figure.