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Britain's state pension is one of the lowest among the richest nations, a report by the Organisation for Economic Co-operation and Development claims.
The study said the UK has one of the "least generous" pension systems in the world.
Researchers place Britain 26th out of 30 in terms of the proportion of post-tax income a worker on average earnings could expect to receive in retirement.
A Briton on average pay of £22,000 could expect their pension to be less than 48% of their post-tax earnings.
State pension schemes in most other developed nations - including Austria, Hungary, Italy, Spain and Turkey - provided 75% of an employee's after-tax earnings.
Mexico, New Zealand, Ireland and the United States also rank with the UK as among the least generous countries.
Luxembourg came top in terms of the proportion of post-tax pay its citizens could expect to receive from their state pension with 102%, meaning they actually receive more on retiring than when in full-time work.
The OEDC found that those with low earnings did much better out of the UK system, with people on half of average earnings able to expect a pension at around 78% of their pre-retirement post-tax income. However, those on twice average earnings get only 30% of their income from pensions.
The report's findings apply only to state pensions and do not cover private pensions.
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