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More retirees plan to escape oversees

retired couple

In a survey of 60 to 65 year old Brits, Currency UK has found that more than 43 % are considering a move overseas as government spending cuts and tax hikes hit confidence. Of those wanting to flee Britain, a quarter stated they would make the move permanently, with the others seeking a holiday home or expressing a desire to travel.

 

The reasons given for leaving the UK's shores when retiring included:

  • 32% - cost (cheaper to live abroad)

  • 26% - feel that Britain has little to offer a retiree

  • 19% - for better weather

  • 8% - seeking a better standard of living

  • 8% - to be neared to family

  • 4% - to travel

  • 3% - other

 

Adrian Jacob from foreign exchange broker Currency UK explains: "The pound has been weak in recent years and many retirees have been forced to move back - particularly from France and Spain. As the pound has now started to rally, and predictions of soaring interest rates in coming years hit the press, a recent trend over the last three months has been retirees seeking to move to Spain and France, making the most of reduced property prices." 

     

International health insurance: News update: 22 October 2010

 

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