UK PENSIONS are the least generous of every country in north-west Europe when compared to the average wage, new research has revealed.

Analysis from the House of Commons Library found that pensioners in the UK receive about a quarter (28%) of the average working age when they retire, in contrast to their counterparts in Luxembourg and Austria who receive approximately 90%.

The net replacement rate divides pension entitlement by pre-retirement earnings, with personal income taxes and social security contributions taken into consideration. Analysis carried out using OECD data shows the UK’s net replacement rate is lower than all 13 neighbouring European countries.

Ireland’s rate was 36%, Switzerland’s 44% and Norway 52%. On the other end of the scale France is 74%, the Netherlands 80% and Austria and Luxembourg both 90%.

READ MORE: How we could reform UK pension failures in independent (or devolved) Scotland

Pensions in independent countries the size of Scotland or smaller were also found to receive a much higher proportion of the average working wage (64%) than UK pensioners, and more than the average in north-west Europe.

The findings come after research released in March showed UK pensioner poverty levels have increased to a 15-year high. More than two million pensioners are now in poverty after housing costs are taken into considered, up 200,000 in just two years.

The SNP say the figures on pensions show why Scotland needs the full powers of independence.

David Linden, the party’s shadow work and pensions spokesperson, said: "Boris Johnson should be ashamed that UK pensioner poverty has risen to a 15 year high on his watch but instead he's cut pension credit, axed the free TV licence, and is slashing Universal Credit for millions of families across the UK.

The National:

"Scotland can do better as an independent country. The evidence shows that pensioners in independent countries of Scotland's size or smaller receive more generous state pensions than pensioners in the UK, both in absolute terms and as a proportion of the average wage.

"Scotland is increasingly vulnerable under Westminster control. It is essential that people in Scotland have a choice over our future so we can build a strong, fair and equal recovery and more prosperous society as an independent country."