UK should scrap state pension for richest 10%, says OECD

Marina Gerner

Britain should not give a state pension to the rich and should instead spend the money to boost benefits for the poor, according to the Organisation for Economic Co-operation and Development.

The UK state pension is based on national insurance contributions rather than wealth, which means it can be received by anyone who has made those contributions, including billionaires. At the same time, British society is ageing and claims on the state pension are growing, while the number of workers is shrinking.

read more

Source Moneywise http://ift.tt/2pvLOTu