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Monday, 18 February 2008

Pension rights, the Canary Islands offers more for your money

Canary Islands offers a better place to collect your pension.
A new survey shows that more and more Britons are choosing to leave the UK and retire abroad. Up to two thirds of higher rate tax payers plan to join the so called “Silver Flight” when they finish working.Many people are opting to purchase a home abroad sooner rather than wait for the actual retirement date and use the property for holidays and letting so reducing any mortgage costs before their pensions are due.According to the Department of Work and Pensions more than one million people already draw their pensions abroad.
In Spain more than 75,000 pensioners receive their benefits paid into their foreign accounts while enjoying the benefits of better weather, lower costs and an easier pace of life. Specific gripes mentioned are spiralling council taxes, high energy bills and a faltering NHS.
The findings follow emigration trends with figures from the Brits Abroad Report published by the Institute for Public Policy Research showing that 5.5 million Britons now live abroad and that a further one million may leave by the year 2011. The Canaries are proving to be one of the most popular destinations for the Silver Flight as it offers an all year round summer climate just a short flight from the UK and still having the benefits of the EU.

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