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A pension savings boost could " improve financial security" for UK households. The UK's pension system has been awarded a B rating with economists calling for improvements to be made.

The UK was graded “B” in the 17th annual Mercer CFA Institute global pension index – alongside several other countries such as Canada, New Zealand, France, Mexico, Belgium, Croatia, Germany and Ireland.

Countries which received an “A” grade included the Netherlands , Iceland, Denmark, Singapore and Israel. Those rated “B-plus” included Sweden, Australia, Chile, Finland and Norway.

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The report noted that in the UK the minimum contribution rate under auto-enrolment is 8%. This is made up of employer and emp

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