The British state pension at a maximum £110.15 a week is the most miserable in Europe. Compared to average income, even Hungary and Slovenia
better the pension benefits British pensioners receive, according to a new OECD report.
British workers on average earnings typically get a state pension worth 32.6% of their working wage. Italian workers, in contrast, can expect 70% of their working salary from the Italian government when they retire. In the developed world, only Mexicans receive less proportionately from the State pension than British workers.
The average European State pension is worth 40.6% of average earnings. If you want to retire comfortably on State coffers compared to those in work, one of the best countries is Austria, at 76.6% - or the Netherlands, even better, at 90.7%. Many Europeans also retire earlier than their British counterparts.
What is a more realistic level of state pension income? The British state pension should be set at £178 a week if it is to be a proper "living State pension", the National Pensioners' Convention claim. Even in the independent states of Guernsey and Jersey, the pensions are far more generous.
There are plans to introduce a flat rate UK pension of around £144 come 2016, worth just under £7,500 a year, just over half the poverty line of around £14,000, though you will need to have worked up 35 years worth of National Insurance contributions to qualify rather than the current 30 (a move the Government has been quiet on, eh Steve Webb!!!).
If you want to have the longest retirement, head for France. The average French male pensioner will live 22.6 years (27.4 for women) on average after leaving work. The average British male kicks the bucket almost five years earlier.
British workers on average earnings typically get a state pension worth 32.6% of their working wage. Italian workers, in contrast, can expect 70% of their working salary from the Italian government when they retire. In the developed world, only Mexicans receive less proportionately from the State pension than British workers.
The average European State pension is worth 40.6% of average earnings. If you want to retire comfortably on State coffers compared to those in work, one of the best countries is Austria, at 76.6% - or the Netherlands, even better, at 90.7%. Many Europeans also retire earlier than their British counterparts.
What is a more realistic level of state pension income? The British state pension should be set at £178 a week if it is to be a proper "living State pension", the National Pensioners' Convention claim. Even in the independent states of Guernsey and Jersey, the pensions are far more generous.
There are plans to introduce a flat rate UK pension of around £144 come 2016, worth just under £7,500 a year, just over half the poverty line of around £14,000, though you will need to have worked up 35 years worth of National Insurance contributions to qualify rather than the current 30 (a move the Government has been quiet on, eh Steve Webb!!!).
If you want to have the longest retirement, head for France. The average French male pensioner will live 22.6 years (27.4 for women) on average after leaving work. The average British male kicks the bucket almost five years earlier.
Non Merci. Mieux Ensemble. (Mon cul.)
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How much did they say the set up costs of Scotland was going to be?
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| We can't even afford the "t" in Scotland |
