UK pensions among the worst in the developed world, study finds

Britain relies heavily on private schemes, while Australia’s state system is one of the most sustainableBritish workers can expect among the worst pensions in the developed world, according to a report from investment bank UBS, which compared the retirement outlook for a 50-year-old woman in major cities across the globe.UBS calculated how much a country’s basic state pension, plus “mandated” pensions such as the UK’s automatic enrolment scheme and Australia’s