Standard Life reveals the top retirement hotspots outside the UK

According to Standard Life the top five places that people are retiring to are:

1 Spain

2 France

3 USA

4 Canada

5 Ireland

Andrew Tully of Standard Life comments, "Retiring abroad is a dream for many people but without careful planning and advice, things can potentially go wrong very quickly."

Top tips for retiring abroad:

• Inform your social security office when you move and provide your contact details abroad.

• Find out about welfare rights abroad.  Some UK benefits are not payable outside the UK; others apply only in the EU or in countries, which have agreements with the UK.

• Tell your bank, building society and any other financial institution that you have a policy or agreement with them and are moving abroad.

• Contact your local council to let them know when you are leaving and leave a forwarding address.

• Find out more about healthcare costs in the country you want to move to.

• Inform your GP and dentist you are moving

• Consider private healthcare insurance

International health insurance: News update: 11 August 2010