How Does Your UK Retirement Cash Compare With Other Countries?

As a British pensioner you can expect an average income that compares poorly with the amount retirees from other countries have to spend, according to data from a leading think tank.

The Organisation for Economic Co-operation and Development (OECD) looked at retirement incomes around the world and worked out how pensions compare with the average worker’s wage.

Britain fared poorly.

The income of a retiree aged 65 years old or over is 76.10% of average income – ranking 28th but still ahead of seven other countries, including the popular UK expat retirement destinations of Ireland and Australia.

Brazil’s retirees best off financially

Top of the table was Brazil, where retirees pick up 122.5% of average income.

Other top scorers were India (116.9%); Chile (101.5%) and France (100.1). The USA was eighth at 90% and Germany 14th scoring 85.8%.

Rather than a direct comparison of how much each retiree is paid, the data looks at how much income they receive compared with the average worker’s wage.

This allows country-to-country comparisons.

The study is published every two years with the last edition released in November 2019.

Incomes of older people, 2016 or latest available year

Average income by age group as a percentage of average income of total population and ranked by average in come for all aged over 65 by 2010

Country All aged over 65 Aged 66-75 Aged over 75 All aged over 65 by 2010
Brazil 117.7 117.5 118.1 122.5
India 108.5 106.8 112.2 116.9
Chile 93.5 95.8 90.0 101.5
France 103.2 107.6 97.7 100.1
Poland 88.7 89.3 87.8 96.0
Canada 90.5 94.1 84.9 94.3
Turkey 86.0 89.1 81.1 90.0
United States 93.8 102.1 80.9 90.0
Hungary 94.5 95.7 92.5 89.2
Japan 87.8 89.7 85.5 88.7
Italy 99.6 107.8 91.4 87.9
Austria 93.8 97.1 89.8 87.0
Mexico 92.5 97.6 84.4 86.0
Germany 88.6 92.5 85.1 85.8
Sweden 85.5 97.0 68.1 85.8
Spain 95.3 102.9 86.9 84.8
Slovenia 89.6 93.2 84.0 84.6
Netherlands 85.6 91.2 76.9 84.1
Switzerland 80.0 84.5 73.8 81.7
Finland 83.2 90.5 73.1 81.6
Israel 101.2 109.7 88.9 80.7
Iceland 94.3 100.5 84.7 80.6
Slovak Republic 87.2 90.6 81.0 80.6
Portugal 99.0 109.7 86.9 80.5
New Zealand 86.2 95.4 71.1 79.0
Czech Republic 75.6 78.9 69.6 78.5
Greece 96.8 103.4 89.4 77.9
United Kingdom 83.6 90.6 73.9 76.1
Belgium 79.7 84.1 74.9 73.7
Lithuania 74.1 81.6 65.2 73.4
Latvia 71.3 78.3 63.5 72.9
Norway 91.6 101.1 77.0 72.4
Denmark 80.9 86.2 72.7 70.7
Ireland 84.1 89.8 75.6 70.0
Australia 72.3 77.9 63.9 66.4

Source: OECD Income Distribution Database

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