At Least we Beat Mexico

The UK State Pension system has come under the spotlight again

The Organisation for Economic Cooperation and Development (OECD) has just published its 2013 snapshot of pension provision amongst its members. As usual, it does not paint a great picture for the UK:

Change in Replacement Rates by Career Earnings Level

The main upside from joining Mexico in the relegation zone is UK state retirement provision is relatively cheap.  The OECD says it currently costs 6.2% of GDP against an average of 7.8% and, for example, 13.7% in France.