If you are a sun-seeking pensioner and are looking to retire abroad financially Spain remains a great option, certainly compared to some other countries further afield.

“Around one million Brits are receiving their pensions abroad, according to figures from the Institute of Public Policy Research, and this is set to more than triple to 3.3 million by 2050, as the lure of the Costas increases.” AND three quarters of these have relocated to Spain.

For anyone entitled to a state pension, if you re-locate to Spain then, as in the Uk, it will increase in line with inflation. This is not always the case as with some countries it is frozen at the level it was when you left the UK.

Also Spain’s resident expat British pensioners, despite the sunshine here, can still claim the Winter Fuel Allowance, whereas if you chose to live in Canada where temperatures can reach minus 22C this would not be the case! I must admit I find this slightly ironic!

All sounds good to me, but remember the tax status of pensions is slightly different abroad so it is worth checking all of this out before you re-locate and which other benefits you might be entitled to.

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