With temperatures reaching 90F (32C), the hottest it’s been in Britain since 2006 one thing is for sure summer is here. Now as the sunny days get longer, one starts to wonder what it would be like to live in this type of climate all year round. Well, for many Britons this is becoming a reality as many are choosing to retire abroad and set up home in many of the tropical paradises around the world.  Among the most popular destinations are Europe, Australia, New Zealand and the US. The motivations are many but according to a survey by Emigrate magazine, the vast majority of people (around 70%) suggest they moved to improve their lifestyle.

There are certainly benefits for people looking to retire abroad. Often, a place in the sun comes with cheaper house prices, reduced living costs and, overall, a better standard of living. However, in today’s climate no country has been immune to the economic downturn, but interestingly less Britons seem to be migrating abroad. With the Sterling rate at a low, our Great British Pound isn’t stretching as far as it once did. When you couple this with the fall in house prices in the UK estimated at around 15% across the board, it is easy to see why people are staying put until the economy picks up and they can afford to retire in the way they would want.

If you are considering retiring abroad it will be useful to know that  the UK government has made a social security benefit arrangement with countries in the European Economic Area which may entitle a British citizen to benefits that they would not normally be able to get while living abroad. In addition, a British citizen may still be entitled to a state pension while living abroad, however the rules vary depending on which country you choose to reside in.