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RIO DE JANEIRO, BRAZIL - In Brazil, approximately 90 percent of people over 25 do not save money for retirement, according to the Allianz Insurance Company's 2020 Global Social Security Report, which examined the social welfare structure of 70 countries.

In places like New Zealand and the United States, this rate is about 30 and 40 percent, respectively. Even emerging countries such as India and Russia record better rates than Brazil, around 80 percent.

But there are also countries in even worse situations, such as Argentina and Egypt, where around 95 percent of the population in this age group does . . .

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