However, the recent troubles in Cyprus hit that island’s popularity somewhat last year, and enabled the US to move up to tie with it in fifth place, the latest report from MGM Advantage, a provider of annuities to the UK retirement market, reveals.
Australia remains in third place, and Ireland stays in fourth.
The seventh most popular retirement destination for Britons is Italy – as was the case in 2011 – followed by New Zealand and Canada.
Germany and Portugal are tied for 10th place. Last year, Portugal had tenth place to itself, and Germany was outside the top 10.
MGM Advantage, known until 2008 as Marine & General Mutual Life, conducts the survey annually by analysing data of those of its customers who begin drawing their annuities in a given year. A company spokesman said that number is typically in the “hundreds”, and that it is a reasonably representative sampling of British pensioners.
