As the soaring cost of retiring in the UK is estimated to hit over £400,000, 87% of UK expats are choosing to retire abroad, according to a study published today.
A total of 57% of those polled by Alliance & Leicester International (ALIL) are planning to retire in Europe. France was the most popular retirement destination for 18% followed by Spain (13%) and the UK (12%). Expats are planning to fund their retirement with a variety of methods including savings (27%), the UK state pension (23%) and private pensions (20%). Property is a big source of retirement funding with 6% relying on rental income, 6% intending to sell a residential investment and 2% planning to take out an equity release plan. Despite this, a lack of finance in retirement w...
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