Retiring abroad: What to consider, from tax to pensions

The high cost of living makes many people consider retiring abroad. We look at what you need to consider, including tax and pensions.

Happy senior couple walking and holding hands on a beach at sunset
(Image credit: Getty images)

More than three-quarters (79%) of British pension savers dream of retiring abroad, according to research by money transfer firm Wise. While better weather is, unsurprisingly, the top reason given for considering retirement overseas, the high cost of living also prompts many people to consider leaving the UK.

Around 46% of respondents aged 55 and over said they wanted to retire abroad for better weather, while 36% said they would leave the UK for a lower cost of living.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.