Alright for some
While the state pension in the UK underwent a significant rise to keep up with the cost of living crisis, it still remains much lower than some of its European counterparks.
The firm then looked at similar data in all of Europe’s 50 countries to establish which country offers the most to retirees in comparison to the country’s current cost of living data. A further analysis of general living expenses such as groceries, eating out costs and household bills helped work out how far each pension goes.
The UK slipped down one spot from earlier in the year to finish 16th in the Pension Breakeven Index, just 17.09 per cent above the pension income breakeven point. The UK State Pension pays around £114 more than the the estimated cost of living for a pensioner, but as the economic crisis continues, the monthly costs are expected to continue to rise over the coming months, leaving little room for an unexpected emergency for Britain’s 12.6million pensioner population.
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