UK state pension 'least generous in the developed world'

State pension 29% of average earnings

Hannah Godfrey
clock • 2 min read

The UK state pension is the "lowest in the developed world", according to the latest OECD figures that display a comparison between the more generous state-funded pensions and the least.

According to the data, the UK is at the bottom of the global pensions league table, with the least generous state provision. As a percentage of average earnings, the UK government pays out 29%. Comparatively, the Netherlands pays out 100.6%, Spain pays out 81.8%, Germany pays out 50.5%, the USA 49.1%, and Poland 38.6%. Former pensions minister Ros Altmann (pictured) said the combination of an ageing population and a decline in the traditional final salary-type pension schemes, the UK faces rising risks of old-age poverty. "In April 2016, major reforms to the UK state pension were s...

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