How does Ireland's state pension compare with other countries?
The study looked at a basket consisting of 10 foods — bread, milk, yoghurt, eggs, rice, cheese, meat, fish, fruit, and vegetables. File Picture.
Ireland fares relatively well in comparison to other countries when it comes to the state pension, and how far it goes in terms of spend on basic food necessities for a month.
Analysts from Polish e-commerce firm Picodi.com examined state pensions or similar payments in 44 different countries, and found that those in receipt of the pension in Ireland spend just under 16% on food, before any other bills or discretionary spending are taken into account.
Using data from the Department of Social Protection and World Health Organization (WHO) guidelines on foods that are recommended for older people to stay healthy, Picodi found that the average pension for around 560,000 people in Ireland is €1,152 net per month.
That ranks Ireland eighth out of the 44 countries examined. Norway has the highest pension at €1,797 per month on average, while Switzerland (€1,704) and the US (€1,482) complete the top three.
Retirees in Albania (€128), Moldova (€128), and Ukraine (€110) are at the other end of the scale, ranking lowest of the 44 countries.
Analysts then formed a conventional shopping list using prices across the 44 countries from this month.
The baskets consisted of 10 foods — bread, milk, yoghurt, eggs, rice, cheese, meat, fish, fruit, and vegetables — that the WHO and local public health organisations recommend for older citizens.
"The value of the basket of basic food products in April 2022 is €182.24," Picodi stated.
Costs such as housing or medicine were not included in the study, just food staples, the firm added.
Norway, Austria, and France topped the list for the best ratio of food prices to pensions.
"In these countries, the basic basket of products accounts for 13.4%, 13.7%, and 14.3% of the average pension, respectively," Picodi stated.
"The situation of retirees in Albania, Belarus, and Ukraine is the worst. The basket of basic products alone consumes 72.8%, 76.7%, and 84.9% of the pension, respectively."
