Originally Posted by
F.O.D
Sorry Vinrouge, Although it is still lots of money, the UK actually spends less than 8% of GDP on state pensions, not sure where you got 12% from.
Aah, yep, good point. The 12% figure ive read recently, possibly the future projection with anticipated Growth plus accounting from liabilities from the boomer generation hitting state retirement. Ive read David Willetts book "The Pinch" recently so possibly from there. The growth as a percentage of GDP (seeing how much we are devoting as a percentage of the economy) is below. In short, social protection (of which state pension is by far the largest portion) accounts for over 240 billion, compared to 46 billion for defence ad 102 billion for education.
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