Older Britons plan to relocate

Thursday March 20th , 2008

Britons who are nearing the end of their working life are increasingly considering a move abroad, according to a new poll.

Research by Prudential revealed that 19 per cent of those who are retiring this year are looking at buying a house in a new area.

However, their locations of choice were found to not be limited to the UK, as 52 per cent of this group said they plan to live overseas.

Commenting on the findings, the firm's Gary Shaughnessy said this showed that older people are not content to simply sit down and relax as soon as they are retired.

He remarked: "Those retiring today are likely to be able to enjoy far more active lives through their pensionable years than any previous generation."

Mr Shaughnessy added that this was partially due to improvements in the quality of healthcare and medicine, as well as the longer lifespan people now enjoy.

According to a study by Foreign Currency Direct, 31 per cent of people who are thinking of setting up home overseas have been prompted to do so because of the climate in the UK.