Four in 10 retirees want to live abroad

JP45

According to a Government-commissioned survey, reported in today's Telegraph:

Around 42 per cent of people aged over 55 said they were thinking of relocating overseas, with 38 per cent considering doing so within the next five years, according to the survey of 1,000 people undertaken by the Foreign and Commonwealth Office (FCO).

But it comes with a health warning:

However, the FCO and financial experts have given warning that people should not be wooed by the prospect of siestas and sangria before considering the financial implications of such a drastic move.

One million expats who live abroad still receive a British state pension, but this is paid in sterling.

Currency exchange company HiFX has calculated that pensioners living in Europe lost £4.9 billion in two years thanks to the strength of the euro against sterling.

The average income for British pensioners overseas has fallen by around £242 a year since January 2007. Those living in Australia, New Zealand and South Africa have been hit even harder, with those in Australia poorer to the tune of £628 a year.

The FCO undertook the study after dealing with an increasing number of expats struggling with their move abroad. It believes that many people had not done enough research before leaving Britain.

A quarter of people admitted they had not thought about the impact of potential currency fluctuations, with four out of 10 saying they thought exchange rates were less important once you lived in a country.

Incredible, a quarter of people had not thought about the impact of potential currency fluctuations.
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wigglebeena

It'd be worth a less affluent old age, not to live with a government of micro-managing busybodies poking their noses into every aspect of our lives, while protecting the 'privacy' of violent policemen and embezzling MPs.

(Is there any justification for legislation on taking photos in public places, beyond protecting the impunity of the police?)

Never mind waiting for retirement, I'd love to take my taxes elsewhere right now. ****ing ********.

davetrousers

Off you go then.

Seriously I would put this down to greener grass and warmer weather.

treliac

Do would be expats think ahead to their very old age? What will happen if/when they develop long term illnesses and disabilities?

Acute medical treatment may be provided if required, but other countries have different approaches to long term care needs when they arise. Some keep the care of elders within their own families. Most, AIUI, do not want to pay for the chronic long term needs of brits who become dependent on the state.

http://www.ageconcern.org.uk/AgeConcern/abroad-health-care.asp

Anyone considering moving abroad would be advised to think these issues through very carefully.

............

The_White_Horse

treliac wrote: »

Do would be expats don't think ahead to their very old age? What will happen if/when they develop long term illnesses and disabilities?

Acute medical treatment may be provided if required, but other countries have different approaches to long term care needs when they arise. Some keep the care of elders within their own families. Most, AIUI, do not want to pay for the chronic long term needs of brits who become dependent on the state.

http://www.ageconcern.org.uk/AgeConcern/abroad-health-care.asp

Anyone considering moving abroad would be advised to think these issues through very carefully.

they can always come back, like ronnie biggs.

chopperharris

treliac wrote: »

Do would be expats don't think ahead to their very old age? What will happen if/when they develop long term illnesses and disabilities?
.

The come back here , dump their hubby , then go back to their villa.

Can you blame them though , they pay into a system for protection from cradle to grave then find out if they stay here their house is sold to pay for care homes.

But you are right , they !!!! off to spain , not just on pensions that are devalued in the exchange , but also on benefits and keeping council homes in the uk and getting perscriptions.....and the irony of irony is they sit readin the express slaggin off benefit scroungers , immigrants ruinging britain while eating a full fry and watching sky sports in an english bar , wearing an english top in marbella.

The buck the tax system by having brit cars , without legal insurance , mot and road tax,Using the tourist health card instead of holiday insurance ripping us off even further....just who do they think they are mp's?

kabayiri

Heck, peeps, we know how the current system works - we can hardly be surprised if people work it.

I don't blame people who pack up and go off somewhere warmer.

If it doesn't work out, come back here and demand council accomodation. What is there to lose?

ukcarper

I’d like to know who they asked I’m over 55 and I’m not considering it nor are any of my friends

Oldernotwiser

treliac wrote: »

Do would be expats think ahead to their very old age? What will happen if/when they develop long term illnesses and disabilities?

Anyone considering moving abroad would be advised to think these issues through very carefully.

............

Avoiding falling into the hands of the NHS is probably one of the reasons for wanting to leave. Healthcare in both France and Spain is excellent.

lostinrates

Treliac raises a great point. One of the reasons I would prefer not to return to Italy for my old age, for example, for example, is that as a woman who is not italian, has no extended family and is unlikely to have no kids, the idea of what could happen if dh predeceased me is a little...uncomfortable. However, there are other places I think I would be as comfortable, o more so than UK in those circumstances.....


feeling very commited to UK atm though.