UK should copy NZ pension approach, suggests PPI

Speaking at a PPI discussion seminar this Tuesday, director Alison O'Connell urged government officials to take on a similar approach to state pensions as the one New Zealand is currently using. The NZ government is at present granting all its pensioners a flat-rate state benefit, called the Citizen's Pension, which its based on residency instead of work history. This approach has effectively left NZ, which is not as rich as the UK on a capital basis, with much less pensioners in poverty compared with Britain. Furthermore, the country has no savings gap at all, which has been achieved...