Pensioners look north to live off pensions, suggests research

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Financial Services > Pensions > News

Pensioners look north to live off pensions, suggests research

Fri, 12 May 2006

The pensioners of the future are looking to move north to enjoy their retirement and make the most out of their pension, claims new research.

Top spots for today's pensioners are found in the south of England in Christchurch, Rother and West Somerset. These areas have almost a third of their population made up of pensioners, compared to the 19 per cent national average.

However, according to a study from Alliance Trust Savings, a growing number of people are looking to enjoy their retirement funds in Yorkshire, Wales and the Midlands.

The future retirement hotspots have been named as East Ridings in Yorkshire, East Lindsey in Lincolnshire and Wyre in Lancashire.

Commenting on the findings, Hyman Wolanski from the savings organisation said that new social and financial factors mean that, unlike a generation or so ago, fewer people are opting to retire close to their families.

"A range of social and financial factors has increasingly led retirees to head for quality of life and value for money in specific hotspots in southern England," he explained.

"This trend is now beginning to change, as retirees find themselves priced out of current hotspots and look further afield," he added.

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