How does Britain’s pension predicament compare with other countries

Liz Kendall this week, the government “retired poverty tsunamisi” trying to address what it describes as the retirement commission announced.

Labor and Pension Secretary, the government in 2050 retired people today is poorer than retired and expected to receive less than 800 £ 800 in private retirement income, “the first place to fight against obstacles that stop too much savings,” he said.

Currently, only 55 percent of adults in the UK contributes to the retirement pot and MPs said that a strategy across the UK is necessary to address retired poverty.

However, Britain’s retirement dilemma is not unique. Countries around the world are struggling with similar approaching crises caused by a combination of factors such as demographic changes, low interest rates and economic instability.

Here, the independent, the other governments to eliminate the approaching crisis is taking a look at what action he takes.

United States

According to a survey published by Pew Charitable Trusts in June, in the United States, half of all private sector employees cannot get a pension plan through their jobs.

The US’s most common workplace retirement plan, which allows employees to voluntarily leave currency as a typically matched retirement by employers. Total employees and employer contributions to 401 (K) cannot exceed 70,000 dollars per year.

According to a survey conducted by the financial services company Credit Karma in 2023, about 27 percent of Americans over the age of 59 do not have any savings to rely on their retirement.

Last week, Wall Street Journal reported that Trump administration is expected to sign an order to be opened to private markets 401 (K).

The US Department of Labor and the Stock Exchange Commission will order guidance for employers to include special assets in their plans 401 (K), which can create more investment opportunity for them.

Canada

Currently, the main challenge for many countries continues to be a low pension saving rate.

According to a survey conducted by the Canadian Pension Fund of the Ontario Pension Plan, the Canadian Pension Fund, more than half of the Canadians (59 percent) does not believe that Canadians will have enough money to retire.

However, Canada is struggling with ratio increases in saving systems.

The government expanded the Canadian Pension Plan (CPP), a monthly benefit that replaces a percentage of a person’s income after retirement.

Between 2019-2025, it increased how much of a worker’s earnings changed from 25 percent to 33.33 percent.

In addition, the maximum earning level protected by the CPP increased by 14 percent compared to 2024 and 2025.

Australia

Australia is accepted that employers have one of the best pension plans in the world that employees should pay a percentage of employees to an account that employees can reach after their retirement.

As of this month, employers should now contribute 12 percent to employees’ retirement savings accounts.

In addition, with the workers’ government, they take steps to close the gender pension payment gap, bringing a retirement hill for parents who take time to look at a newborn child.

Cityuk CEO Miles Celic said: “For example, if we mimic the achievements of Australia and Canada, the total contributions will have to increase.

“This will include difficult political elections as well as technical changes in politics and regulation.”

France

In 2023, French President Emmanuel Macron raised the retirement age from 62 to 64, which led to a great public reaction and protests.

Macron’s management argued that reform is necessary to prevent long -term deficits in the pension system.

At that time, Macron said he didn’t like to go through the reform, but he called it a necessity by saying, “The longer we wait for (open).

In addition to increasing retirement age, France increased its minimum contribution requirements in all groups this year by 2 percent.

The minimum contribution applies to pension salaries within the scope of Pension Insurance Plan.

Germany

In Germany, retirement age is gradually increasing from 65 to 67. Like many governments in Europe, he is trying to reduce the pressure on the retirement system created by the aging population.

Last year, he approved the retirement reform and the new government set a series of policies, including the protection of the amount paid to retirees every month – this is 48 percent of the average monthly salary.