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State pension ‘worst in the developed world’

The state pension in the UK falls behind all other developed countries, according to data from the Organisation for Economic Co-operation and Development (OECD).

The UK government pays 29% of average earnings, the lowest of all 24 countries in the OECD.

This falls well below the average of 62.9% across these countries.

Mexico joined the UK at the bottom of the list, with a slightly higher state pension of 29.6%.

In contrast, the Netherlands has the most generous state pension, paying 100.6% of earnings on average.

The top 5 state pensions among OECD countries were:

  1. Netherlands (100.6%)
  2. Portugal (94.9%)
  3. Italy (93.2%)
  4. Austria (91.8%)
  5. Spain (81.8%).

In response to the report, former pensions minister Ros Altmann warned that the state pension system is "unaffordable", despite being lower than other OECD countries.

Writing on her blog, Baroness Altmann said:

"We are one of the world's leading economies, but our support for the oldest in society is not fit for purpose.

"To avoid burdening younger generations with significant tax rises, it is vital that more is done to boost private pension saving."

We can help with your pension planning.

Why Clients Choose Easy Accountancy

Easy Accountancy offers a low cost, fixed fee accountancy package with all clients receiving their own dedicated, friendly, approachable accountant.

All of our accountants specialise in providing accountancy services to the self-employed, freelancers, sole traders, small to medium sized limited companies and private individuals. All accountants are employees of Easy Accountancy and we never outsource or offshore work.

Our low cost, all-inclusive fixed-fee accountancy service includes unlimited access to your own dedicated accountant throughout the year and covers all your business and personal tax affairs needs.

All our accountancy services include:
  - Unlimited access to your accountant
  - Ongoing advice on how to manage your business
  - Proactive tax advice throughout the year
  - Updates and reminders so you'll never miss a deadline
  - Free bookkeeping software

As a sole trader our fees start at just £60 + VAT a month, for this you receive the above plus:
  - Completion of your Self-Assessment tax return
  - Advice on how much Income Tax to pay
  - Guidance on National Insurance contributions

As a limited company our fixed fee packages are bespoke to your needs, however typically you’ll receive the above, plus:
  - Completion of your year end accounts*
  - Completion and submission of your annual return Companies House
  - The director/s Self Assessment tax return
  - Payroll bureau
  - Dividends and corporation tax computations

We’ve saved our clients up to half on their accountancy bills – if you’d like a quote, click on the quote me button to the right of this page. Alternatively, call us on 01442 275767 or email

*If you would like us to complete your company year end accounts we simply ask that you have been a client of Easy Accountancy for one year or have made 12 monthly payments.