But there are two issues to consider.
Firstly, this is about political choices, and the UK chooses to dedicate larger amounts to items such as universal healthcare.
And secondly, with ageing populations, the OECD reckons the amount needed for pensions may be set to soar in many nations by 2060 (the exceptions largely being those that are deploying changes).
Its predictions for the UK are likely to rise by less under the revised triple lock system being put in place by Andy Burnham but it may still mean more borrowing.
As it is, £1 in every £13 the UK government spends is to pay the interest on existing debt. And countries with more generous pensions, such as Italy, have faced pressure to reform.
So in many ways, with auto-enrolment into workplace pensions, the UK appears to be ahead of the game in insisting on universal privately funded pensions for workers. But that system raises another issue: the gender pension gap.
The gender pension gap is the difference between the average pension income of men and women aged 65 and over, as a percentage of men’s average pension income.
It found that the typical gap in most wealthy countries is around 22.8% in favour of men.