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'More retirees moving abroad for a better standard of living'

By Tom Farley, Mon 28 Jul 2008 - Published in Pensions

Pensioners who compare money-saving lifestyles may find living abroad makes economic sense.

According to Shelter Offshore, increasing day-to-day expenses in the UK are leading to more retirees moving abroad.

Director Rhiannon Davies claims over recent times rising living costs have become a real concern for many people.

She added if those people who still work are finding managing money a struggle "just imagine how tough things are for pensioners living on a fixed income".

Research carried out by NatWest revealed 87 per cent of British expatriates claimed their life had improved since moving abroad.

Approximately 91 per cent of those questioned said they were happier than they had been in the UK and 90 per cent said they were better off financially.

Earlier this month, a study by the Joseph Rowntree Foundation found a single person needs to bring in a minimum of £13,400 a year before tax in order to be able to afford a basic but acceptable standard of living.