Nearly half (42%) of Brits would leave the country to retire if they could, according to a survey by investment comparison site Investing Reviews.
The research, which asked more than 2,000 Brits for their views on retirement, pensions and investments revealed that more than two-thirds (69%) believe that the UK retirement age should be lowered.
Almost three-quarters (71%) of respondents also said it is harder to retire in the UK now than ever before.
The survey found that 63% do not believe their pension is enough to retire on comfortably and that they will need additional investments alongside their pension. More than half (56%) said they are unable to make as many pension contributions as they would like to.
More than a third (35%) of those surveyed reported that they do not know exactly how much money is in their pension.
Furthermore, well over a third (43%) of respondents would consider moving into a different career if it resulted in greater pension contributions by their employer.
Simon Jones, chief executive at Investing Reviews, said: “There are endless debates to be had regarding the UK retirement age and the state of pensions, especially considering the recent rise in retirement age in France and the backlash that received.
“These responses offer an insight into the attitudes that the British public hold towards pensions and retirement ages, particularly the sentiment that it is now harder to retire comfortably than ever before.
“It will be interesting to see if factors such as the backlash in France to the rise in the retirement age and the increasing difficulty of the cost-of-living crisis have any effect on these sentiments in the future.”
Sun seekers
This survey comes as Retirement Solutions analysed the average monthly Google search volume for different terms relating to retiring abroad.
Spain is the most popular country for Brits assess retirement options, followed by Australia and Portugal in second and third place, respectively.
Thailand, Canada, France, India, New Zealand, Italy and Greece made up the top 10.
A spokesperson from Retirement Solutions said: “There are many ways to spend your retirement, whether that be picking up new hobbies or becoming more active – but one thing that many people may not get to experience as well as they’d like to is visiting different countries and exploring new cultures. For this reason, retiring abroad is very appealing to many Brits.”
It’s interesting to see the variety of countries that make the top 10, from Canada with its cold climate and scenic mountains to Greece which offers plenty of sunshine and peaceful beaches. Wherever you retire, you can try a new lifestyle and find new skills that you may have never had chance to discover previously, such as learning a new language.”
