The number of Britons reliant on state pensions grew by 1% to 11.1 million in the past year, despite controversial pension cutbacks and efforts by the U.K. government to entice people into private savings. The increase, reported today by the Department of Works and Pensions, could give ammunition to political parties and lobby groups claiming that Britain’s pensions system is in crisis and needs a radical overhaul.
The government is expected to publish a paper later this year outlining its views on pension reform and measures to curb the savings shortfall and the drain on the public purse caused by the growing number of pensioners.
