The Australian Federal government does not pay you the full old age pension (67yo) if you have a certain amount in the bank ,I think it's around $250,000 then you lose so much ,some don't get it at all if they are self funded drawing on their retirement savings they saved all their life.
I believe the UK also has a assets limit ?
The current old age pension I believe around $1100 per fortnight
The guy I'm talking about is using his own retirement savings (we call it Superannuation) that he has paid into thru his working career .
Currently the employer must pay around 10,% on top your salary into Superannuation
He cannot apply for the old age pension until he is 67 but he may have too much cash to be eligible,even then he has to go come back to Australia for a whole 2 years residency to be eligible to apply !