How does UK government expenditure on state pensions compare internationally?

Last updated: 03 Mar 2020

Not well. Figures from the Organisation for Economic Co-operation and Development show we are 20th out of 28 for long term spending.

The UK is forecast to spend 8.2% of GDP compared with an average of 11.7%. Only Iceland, Australia, Mexico, New Zealand, USA, South Korea, Estonia and Canada are lower.

UK expenditure is set to fall as a result of recent government reforms. Yet the Treasury will get £6 billion a year more through increased National Insurance contributions.

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