An increasing number of us are retiring abroad, drawn to warmer, sunnier climates where our pensions will stretch further, or to be united with children or grandchildren who have settled abroad. “The silver flight is the result of Britons being increasingly willing and able to spend their retirement in Adelaide, rather than Accrington,” says Danny Sriskandarajah, associate director of the Institute for Public Policy Research. He predicts that, by 2050, more than 3.3m Britons will live overseas.
The Department for Work and Pensions says that for the 1m or more Britons who have a pension paid to them abroad, the most popular location, with 242,560, is Australia. In Canada, there are 155,120; in the USA, 128,970; in Ireland, 104,270; in Spain, 79,560. New Zealand, Italy and France are popular; so, are Cyprus and Malta.
Read the entire article...
Copyright © TimesOnline
Published: July 19 2008