NAPF: Priced out pensioners to retire abroad

clock

Half of pre-retirees (46%) would consider retiring to a cheaper country to get better value for money, according to a survey from the National Association of Pension Funds (NAPF).

The majority of those taking part in the survey (60%) did not expect to be able to retire in comfort in the UK. Only 15% think they will. And a quarter (24%) of those aged 55 to 64 would rather retire overseas than pay more into their pension in order to live in the UK. Joanne Segars, NAPF chief executive expects a "grey flight as people try to squeeze the most out of their pension." Less than half the workforce is saving into a pension, meaning people will increasingly use a move abroad to stem the savings gap. Spain, Canada and Cyprus are popular choices for retirees, but NAPF...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •