Browned off Britain: six in 10 would like to leave the country
Browned off Britain: six in 10 would like to leave the country
By Ian Cowie Your Money Last updated: August 9th, 2010
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Will the last person to leave Britain please remember to switch off the lights? Nearly six in 10 Britons would like to retire overseas, making us the most unhappy Europeans about the quality of life in our home country, according to a survey of more than 7,500 people by actuaries and benefits consultants Aon.
Less than half or 43 per cent of Britons said the United Kingdom was their preferred retirement location, with many instead planning to pack their bags and retire to sunnier climes. Among other Europeans questioned, only the Germans (46%) and the Irish voiced nearly as low levels of satisfaction with their home countries at 46 per cent and 49 per cent respectively.
By contrast, Spain (87 per cent) and France (81 per cent) topped the popularity tables when it came to workers intending to retire in their home country, followed by the Danes (74 per cent).
Spain is the retirement destination of choice for British workers, with almost one in four or 23 per cent of those who said they wish to retire abroad identifying Spain as their preferred country. Oliver Rowlands, head of retirement at Aon Consulting said: “Cheap air travel and the communication tools available over the internet means that retiring overseas doesn’t necessarily mean being completely absent from your family’s life, making the prospect of emigration to other countries on an previously unseen scale a real possibility.
“There are financial implications that people thinking about retiring overseas need to consider. Cost of living may be higher in the country of choice. There can also be tax implications and healthcare benefits can vary widely for expatriates and this will be a major concern for retirees as they grow older.”
Aon warned that an influx of retiree immigrants to any one country could exacerbate the already ticking time bomb of an ageing population in Europe, forcing countries like Spain and France to rethink social policies and budgets to deal with extra pressures on healthcare resources. While the macroeconomic and demographic outlook remain uncertain, here and now, summer holidays seem to have done nothing to cheer us up about our quality of life in the UK.
Top 10 Retirement Destinations for Europeans (for those who hope to retire abroad):
Spain
France
USA
Italy
Australasia
Africa
Switzerland
Latin America
United Kingdom
The Netherlands
Percentage of those wishing to retire in their home country:
Spain 87 per cent
France 81 per cent
Denmark 74 per cent
Norway 63 per cent
The Netherlands 61 per cent
Switzerland 53 per cent
Ireland 49 per cent
Germany 46 per cent
UK 43 per cent
By Ian Cowie Your Money Last updated: August 9th, 2010
221 Comments Comment on this article
Will the last person to leave Britain please remember to switch off the lights? Nearly six in 10 Britons would like to retire overseas, making us the most unhappy Europeans about the quality of life in our home country, according to a survey of more than 7,500 people by actuaries and benefits consultants Aon.
Less than half or 43 per cent of Britons said the United Kingdom was their preferred retirement location, with many instead planning to pack their bags and retire to sunnier climes. Among other Europeans questioned, only the Germans (46%) and the Irish voiced nearly as low levels of satisfaction with their home countries at 46 per cent and 49 per cent respectively.
By contrast, Spain (87 per cent) and France (81 per cent) topped the popularity tables when it came to workers intending to retire in their home country, followed by the Danes (74 per cent).
Spain is the retirement destination of choice for British workers, with almost one in four or 23 per cent of those who said they wish to retire abroad identifying Spain as their preferred country. Oliver Rowlands, head of retirement at Aon Consulting said: “Cheap air travel and the communication tools available over the internet means that retiring overseas doesn’t necessarily mean being completely absent from your family’s life, making the prospect of emigration to other countries on an previously unseen scale a real possibility.
“There are financial implications that people thinking about retiring overseas need to consider. Cost of living may be higher in the country of choice. There can also be tax implications and healthcare benefits can vary widely for expatriates and this will be a major concern for retirees as they grow older.”
Aon warned that an influx of retiree immigrants to any one country could exacerbate the already ticking time bomb of an ageing population in Europe, forcing countries like Spain and France to rethink social policies and budgets to deal with extra pressures on healthcare resources. While the macroeconomic and demographic outlook remain uncertain, here and now, summer holidays seem to have done nothing to cheer us up about our quality of life in the UK.
Top 10 Retirement Destinations for Europeans (for those who hope to retire abroad):
Spain
France
USA
Italy
Australasia
Africa
Switzerland
Latin America
United Kingdom
The Netherlands
Percentage of those wishing to retire in their home country:
Spain 87 per cent
France 81 per cent
Denmark 74 per cent
Norway 63 per cent
The Netherlands 61 per cent
Switzerland 53 per cent
Ireland 49 per cent
Germany 46 per cent
UK 43 per cent
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