UK state pensions poorest in EU

State pension offers half replacement rate of European neighbours, although demographic background starting to improve

The UK's state pension system is the poorest in the European Union (EU) with under half the replacement rate of its European neighbours, according to Aon Consulting research. Its latest annual European Pensions Barometer Report shows early retirement among EU workers is playing a key part in weakening the sustainability of pension systems. According to Aon figures, over half of 55-64-year-olds are not contributing to the European economy. Donald Duval, chief actuary at Aon Consulting UK, said a broad theme across EU pension systems is dealing with an ageing population. "A positive s...