One in three Brits plan to retire abroad - 8th December 2008

They are known as the emi-greys - those who choose to up sticks and move to a warmer climate as the sun starts to set on their own lives.
More and more pensioners are choosing to leave the grey shores of Britain in search of a lower cost of living, good quality healthcare and, of course, better weather. 

Research from Scottish Widows has revealed that more than a third of those living in Britain would consider moving abroad when they retire, with Britain's poor climate being a key driver. 

The study shows that finances are also a major reason for leaving the UK, with 35 per cent of those questioned saying they’d consider moving abroad after retirement to escape the high cost of living in this country.

Around half (47 per cent) of those questioned believe that the UK is too expensive to live the life they want to lead and a third (28 per cent) feel that they can't afford to stay in the UK when they retire.

Spain is the most popular destination being considered for retirement, with 17 per cent of those questioned saying they would move there. One in 10 would consider moving to Australia or the US, while France, Canada and New Zealand are also popular destinations. 

At present, there are around one million people from the UK who choose to have their state pension paid into an overseas bank account. However, the number of senior citizens from this country who now live abroad is thought to be much higher than that.

Simon Conn, Sales and Marketing Director at Conti Financial Services, says:

"The attraction of a better climate and relaxed lifestyle means the number of people wishing to retire overseas seems to grow every year. And in many destinations, they find that property and general living costs are cheaper.  

"It's perhaps no surprise then that the Institute for Public Policy Research expects more than 3.3m British pensioners to join the 'silver flight' by 2050."