UK 'bottom of G7 pile' for pensions

clock

UK state pension provision trails other G7 countries by as much as half, research from AXA suggests today.

At just 31% of the UK's average earnings, the state pension is worth less than half than the equivalent for Italians, who retire with a state pension of 68% of average earnings. The insurer compared figures for state pension provision relative to income for the UK against other G7 countries Canada, France, Germany, Italy, Japan, and the USA - the UK's ranking was "bottom of the pile". The AXA research also suggests 64 % of UK residents expect to rely on a state pension as their main source of retirement income as more shun occupational pension schemes. Steve Folkard, AXA head of sa...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

PIMFA warns 'further clarity' needed in FCA's proposed SIPP changes

PIMFA warns 'further clarity' needed in FCA's proposed SIPP changes

Consultation closes today

Sophia Panayi
clock 24 August 2026 • 3 min read
DWP publishes updated roadmap for workplace pensions

DWP publishes updated roadmap for workplace pensions

Government sets out an updated plan to implement workplace pension reform

Jonathan Stapleton
clock 13 July 2026 • 2 min read
'Significant gap' found in HMRC's SIPP data

'Significant gap' found in HMRC's SIPP data

No data identifying SIPPs or junior SIPPs as distinct categories, Aberdeen Adviser FOI finds

Isabel Baxter
clock 01 July 2026 • 2 min read