Rising living costs 'could see pensioners on the move'
Rising costs of living in the UK could see an increasing number of pensioners look to cut their expenditure by moving to a foreign country, according to one expert.
Lisa Harris, a spokesperson for Saga Travel Money, maintains that moving outside the UK is becoming a more "serious consideration" for people aiming to make the most of the money they have saved for retirement.
However, she also notes that in most cases where pensioners are concerned about rises in the cost of living they move to less expensive areas of the UK in an effort to make retirement a little easier.
"When you look at the number of people choosing to move to lower their living costs in retirement, less than one per cent move abroad," explained Ms Harris.
A study conducted two years ago by the Institute for Public Policy Research concluded that by 2050 there will be close to 3.3 million British pensioners living outside the UK.
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