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Retire to Britain the big question for ageing expats
| Published: | 10 Oct at 6 PM |
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Many UK expats living in Europe and further afield as asking themselves the big question – should we retire in Britain?
Facing old age abroad with a declining pension pot due to the last four years of financial chaos is forcing many expats to reconsider their decision to retire abroad after their expat jobs finish. Others who retired early to live the expat life in sunny climes are asking themselves whether they should return to their home countries.
As conditions in their chosen countries continue to deteriorate and the cost of living index rises, expats can’t help but notice that their pensioner neighbours are finding it harder to manage on a UK pension plus tiny returns from investments. Many are now considering spending their twilight years back in the UK, surrounded by familiarity and state help.
Many trapped in Spain have already left, some due to having had their homes demolished during the last few years’ property scandals, and others can’t leave because they cannot sell their apartments or villas to finance their return. Many more have no family ties in Britain and are reluctant to face the changes in the home country since they left.
However, the present situation won’t last for ever, as the world changes faster than most of us realise, requiring expats to change with it. Putting aside family ties to children and grandchildren, those brave enough to plan a new life in an unfamiliar country need to explore every possibility before they jump. It helps to remember the old saying about greener grass the other side of the fence, and this applies to both those returning to the UK and those desperate to leave it.
Facing old age abroad with a declining pension pot due to the last four years of financial chaos is forcing many expats to reconsider their decision to retire abroad after their expat jobs finish. Others who retired early to live the expat life in sunny climes are asking themselves whether they should return to their home countries.
As conditions in their chosen countries continue to deteriorate and the cost of living index rises, expats can’t help but notice that their pensioner neighbours are finding it harder to manage on a UK pension plus tiny returns from investments. Many are now considering spending their twilight years back in the UK, surrounded by familiarity and state help.
Many trapped in Spain have already left, some due to having had their homes demolished during the last few years’ property scandals, and others can’t leave because they cannot sell their apartments or villas to finance their return. Many more have no family ties in Britain and are reluctant to face the changes in the home country since they left.
However, the present situation won’t last for ever, as the world changes faster than most of us realise, requiring expats to change with it. Putting aside family ties to children and grandchildren, those brave enough to plan a new life in an unfamiliar country need to explore every possibility before they jump. It helps to remember the old saying about greener grass the other side of the fence, and this applies to both those returning to the UK and those desperate to leave it.
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