Spain still top retirement destination for Brits

Spain is the top retirement destination for British pensioners, a study by annuity provider MGM Advantage has revealed.

Based on data from its customers, MGM Advantage found that after Spain, France was the second most popular destination for retirees, followed by Australia, Ireland and Cyprus.

Andrew Tully, pensions technical director, MGM Advantage said: “The thought of an easier pace of living, better weather and potentially cheaper property than the UK can prove a strong draw.

“But without the right planning and advice you can quickly get caught out by the local tax laws. And that is before you even look at your pension and other financial arrangements.”

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