UK pensions ‘among worst in developed world’

UBS says British retirees are more dependent on private pension provision

A comfortable retirement is no longer a guarantee in the UK
(Image credit: Christopher Furlong/Getty Images)

British pensions are some of the worst in the developed world, according to a UBS report which compares the retirement prospects for 50-year-old women in major cities worldwide.

Taking into account each country’s basic state pension, plus the compulsory pension employers must set aside, the investment bank calculated the proportion of an average salary someone could expect to receive once they retire.

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