Is Britain bottom of the pensions league?
BRITAIN’S state pension is the most miserly in the developed world, official statistics confirmed yesterday.
Pensioners living solely on state benefits receive less than a third of the income of average workers, the figures reveal, putting the UK at the bottom of a league table of 17 leading industrialised countries.
The shortfall means British workers will have to save far more to guarantee a decent standard of living in retirement.
And last night a separate Westminster report warned that the savings culture will be further wrecked by punitive new tax rates on pensions announced in Chancellor Alistair Darling’s last Budget.
Angry critics blamed Gordon Brown for decimating a pension system that was once the envy of the world.
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ARE YOU WORRIED ABOUT RETIRING?
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