OECD: UK has lowest state pension of any developed country

British workers receive just 29% of their previous earnings, although private pensions bring figure up to near average

Britain's workers can look forward to the worst state pension of any major country, according to a report by the developed world's leading economic thinktank.

The Organisation for Economic Cooperation and Development (OECD) study calculated that a typical British worker will at retirement receive a state pension and other benefits worth around 29% of what they had previously been earning. That compares with an average of 63% in other OECD countries, and more than 80% in Italy and the Netherlands.