Britain Lags Behind In The State Pensions

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Britain lags behind in the state pensions league: Poll of 34 countries finds only Mexico and Chile offer a worse deal relative to a person's average earnings 

Relative state pension found to be third lowest out of 34 OECD countries  

Britons who rely solely on their state pension receive 38% of average pay

Half of average wages for Germans and more than two thirds for French

Most generous systems from Turkey (105%) and the Netherlands (96%)

By ROSIE TAYLOR, BUSINESS REPORTER FOR THE DAILY MAIL

PUBLISHED: 01:14 GMT, 2 December 2015 | UPDATED: 06:31 GMT, 2 December 2015

     

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Britons drawing the state pension are losing out compared with their counterparts in other countries, a report has found.

The state pension here relative to average earnings is the third lowest out of the 34 countries signed up to the Organisation for Economic Co-operation and Development, with pensioners in only Mexico and Chile getting a worse deal.

Those in the UK who rely solely on the state pension receive just 38 per cent of average wages, compared with an average of 63 per cent across the 34 countries, which are described as developed or emerging nations.

Doing the maths: The most generous systems, in Turkey and the Netherlands, provided pensioners with 105 per cent and 96 per cent of average earnings respectively (file picture)

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Doing the maths: The most generous systems, in Turkey and the Netherlands, provided pensioners with 105 per cent and 96 per cent of average earnings respectively (file picture)

Germans receive a state pension worth half of average earnings and the French get just over two thirds. 

The most generous systems, in Turkey and the Netherlands, provided pensioners with 105 per cent and 96 per cent of average earnings respectively.

Researchers compared the ‘replacement rate’, the proportion by which pension income replaces earnings received while working.

 

 


 

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On basic Pensions maybe but there are many that are on Final salary pensions that are never included in these Surveys which can tend to give a somewhat Shaded report.

 

JMHO 

Jack :)

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Thank goodness I have my post office pension as well as state pension

I can't imagine trying to survive on just the state pension alone here in UK.

JB

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A basic state pension.could you manage living in the Philippines

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A basic state pension.could you manage living in the Philippines

 Many Do Steve, Luckily most of us had Plan "B"

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A basic state pension.could you manage living in the Philippines

 

I assume that is a question. I think that it would be a struggle in the Phils as well as in the UK. Add in the fact that your pension would be frozen, no annual increases, if you lived in the Phils will make it even worse in the future. Here in Colombia, I could comfortably live on just my UK old age pension.

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A basic state pension.could you manage living in the Philippines

Yes 

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A basic state pension.could you manage living in the Philippines

 

I assume that is a question. I think that it would be a struggle in the Phils as well as in the UK. Add in the fact that your pension would be frozen, no annual increases, if you lived in the Phils will make it even worse in the future. Here in Colombia, I could comfortably live on just my UK old age pension.

 

The Uk has an agreement with the Phills in that you do get the increases over here how long that will last is anybodies guess

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A basic state pension.could you manage living in the Philippines

 

I assume that is a question. I think that it would be a struggle in the Phils as well as in the UK. Add in the fact that your pension would be frozen, no annual increases, if you lived in the Phils will make it even worse in the future. Here in Colombia, I could comfortably live on just my UK old age pension.

 

The Uk has an agreement with the Phills in that you do get the increases over here how long that will last is anybodies guess

 

 

:bash:  Oooops, I didn-t know that.

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A basic state pension.could you manage living in the Philippines

 

I assume that is a question. I think that it would be a struggle in the Phils as well as in the UK. Add in the fact that your pension would be frozen, no annual increases, if you lived in the Phils will make it even worse in the future. Here in Colombia, I could comfortably live on just my UK old age pension.

 

The Uk has an agreement with the Phills in that you do get the increases over here how long that will last is anybodies guess

 

 

:bash:  Oooops, I didn-t know that.

 

Mate it aint advertised 

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