So many Britons dream of retiring to sunnier climates. While there’s something endearing about the hustle and bustle of UK cities with the contrast of the beautiful British countryside patch-working the nation together, the draw of better weather and a more relaxed way of life calls to many as they approach the end of their working life.
Research from British bank HSBC has shown that around 38% of those approaching retirement are considering a move abroad – that’s close to 5.4 million people looking to emigrate. And as new reforms to how retirees in the UK can access their pensions have come into effect – with pension income drawdown allowing flexible access to pension funds – the cash windfall retirees can now enjoy will allow them to make their retirement dreams a reality.
Many Brits Retire in Australia or the United States
While the majority of British ex-pats move down under to Australia, or across the Atlantic to the United States, many retirees still want to feel like they’re closer to home should family and friends want to visit and vice versa. This is why countries such as Spain are popular .
Retire in Spain
Spain is popular due to its beautiful coastlines, rolling countryside and bustling cultural cities such as Madrid and Barcelona; of course, the weather helps too – with warm and sunny climates through much of the year, particularly on the islands, such as and .
Retire in Portugal
Also a popular destination with many British ex-pats is Portugal, which actually has the third highest British ex-pat population in Europe after Spain and France. Portuguese property though can be up to 3 times cheaper than in France, so retirees could see it as a real opportunity to splurge some of those pension savings on a place in one of Portugal’s many beautiful villages.
Retire in Malta
One place that may not automatically spring to mind when thinking of a retirement abroad is . It’s one of the smallest states in the world, but it’s also one of the most densely populated; don’t let that put you off, it’s for very good reasons! Average temperatures of 19C through the year, as well as over 3,100 hours of sunshine and English as a first language for most means it’s an ideal destination for British retirees looking for fun in the sun during retirement.
Other Retirement Options
Should you wish to go further afield in your retirement, other popular destinations for expat pensioners include Barbados, Jamaica and Thailand.