According to Liverpool Victoria, British people are the worst savers, based on the number of people surveyed in the UK and other countries.
The Friendly Society claimed that only 13% of Brits saved, making them the worst. The next on the list was Germany with only 19% of savers.
In terms of the amount of savings made, Germans save almost 10% of income, Brits save 5.5% and the French save just over 11%.
Our View
We are not surprised with the figures from the UK; people just do not save, as they should do. They get to retirement and wish they had though!
One shocking figure is that of the French. Whilst wages in France are not notoriously high, social security costs are. This would indicate that the average Frenchman does not spend much! Whilst Brits were the worst in terms of savings, Liverpool Victoria found us to be the most savvy when it comes to risk and return. The Friendly Society believes that Brits invest with risk in mind and tend to make the most of the savings available. Not all bad news then, eh?