Thousands of Britons embark on retirement every year and finding the perfect location for retirement can seem like a daunting task. But with the UK boasting so many wonderful places to experience given the choice, where would you choose to live out those golden years?
To help new and upcoming retirees, Local Financial Advice has a new Retirement Index report to reveal the best places in the UK for retirement using the following weighted metrics; average pension fund size for people in the area, pensions shortfall they should expect, cost of living, average house price, life expectancy, best hospital index score and crime rates.
The results are in for top 10 best places for retirement in the UK:
|Ranking||City||Avg Fund Size||Life Expectancy (Years)||Cost of Living Index||Expected Pension Shortfall (£)||Average House Price (£)||Best Hospital Index||Crime Index||Index score|
|3||Greater London||£ 129,878.33||80.9||86.88||£19,856||£500,310.14||98.96||53.23||59.59|
|4||Newcastle upon Tyne||£ 126,512.90||79.94||66.08||£18,772||£173,967.86||86.12||39.24||58.43|
Cambridge is the best place in the UK for retirees
Cambridge comes out top in the rankings as the best place in the UK for retirees and it’s easy to see why! It’s one of the UK’s most historic areas and, thanks to its university colleges, Cambridge is filled with gorgeous architecture. Plus, who can resist a relaxing punt along the River Cam? The city scored consistently well in the research and came out on tops for life expectancy and crime rates. It looks like retirees in Cambridge can enjoy some well-earned peace and quiet.
Second in the rankings is the Scottish capital Edinburgh, the city also comes out top for the average pension fund size. The historic city hosts a wealth of beautiful architecture, world class cultural festivals, and beautiful countryside on your doorstep. It makes Edinburgh the perfect destination for anyone looking for an adventurous retirement.
Nigel Borwell at Local Financial Advice comments on the report “Moving to a new location for retirement brings a host of life changing and exciting opportunities to live out those golden years to the fullest. Our new retirement index provides a helpful guide to give you a better indication as to where is best to settle in retirement. I encourage more upcoming retirees to make the leap and enjoy the rewards.”
The full report and data can be seen at: https://www.localfinancialadvice.co.uk/blog/the-best-uk-cities-for-retirement-local-financial-advice