British Pensions: How Do They Compare Globally?

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Retirement income remains a pressing policy question across wealthy nations. The UK funds its state pension through a system called the triple lock, introduced in 2011, which increases benefits annually by whichever is greatest: inflation, wage growth, or 2.5%. This formula has made pensioner benefits grow substantially faster than worker earnings. However, despite these increases, pensioner poverty has slightly risen over the past decade as housing costs have climbed. The debate now centers on whether this approach remains financially sustainable and fair to younger workers funding the system.