'Backward-looking' UK drops out of top ten markets for financial inclusion

Principal Financial Group research

The "backward-looking" UK has dropped out of the top ten global markets for financial inclusion, weighed down by lower levels of support from the government and the financial services sector, according to research from Principal Financial Group.

The UK fell from seventh to 11th place out of 41 markets in Principal's third annual Global Financial Inclusion Index in conjunction with the Centre for Economics and Business Research (Cebr). In terms of government support, the UK fell four places to 17th while for financial system support it dropped four places to eighth. The UK ranks eighth for its public pension offering; however, the country saw its ranking for awareness and uptake of government-mandated pension and savings schemes fall three places to 23rd. Principal Asset Management launches Article 9 food and biodiversity f...