Retiring to Spain

Many plan to retire to a Spanish destination -
and those who do, are the most satisfied with life

About a quarter of the British population hope to retire abroad, and Spain is their No 1 destination. And those who choose Spain appear to be the most satisfied with their lives, according to research.

Spain has so much to offer those planning retirement abroad, including cheaper property prices, excellent access and transport links, great climate, beautiful scenery, relaxed lifestyle, lower cost of living and excellent medical care.

If you would like details about buying your retirement property in Spain please contact us using this form. (a new window will open) Or you can email us here.

25% of the British population hope to retire abroad

Retiring to Spain, many choose this as their Number 1 Choice

More and more people are planning to spend their retirement years abroad. Research shows that around 25% of the British population hope to retire abroad and The Department of Work and Pensions state that already, over one million Britons have made this move.

Many choosing to retire abroad choose Spain as their No 1 destination and Professor Russell King of the University of Sussex, an expert in the migration patterns of retired people who has carried out research into living in some European countries says people who retire to Spain appear to be the most satisfied (Judither Larner, writing in the Guardian, March 12th, 2003).

Why is Spain such a popular retirement destination?

The reasons why people choose Spain as the No 1 destination for retirement are many - Spain has so much to offer those who are planning to spend their retirement abroad.

Property

Selling a property at home and buying a new home in Spain can give improved financial security. Because of the differences in the housing markets, you can be left with some money in the bank.

Easy Access

With the many low cost airlines now operating regular services from all major airports, Spain is easy to get to and it makes travelling back to your home country to visit friends and family easy. Spain also has good infrastructure. With substantial investment from the EU, it has excellent motorways making travelling around the country easy.

Excellent climate

One of the main reasons people choose Spain to retire to is the beautiful climate. Spain has on average 320 days of sunshine a year. Winters are pleasantly mild while summers are glorious. This type of climate is beneficial for those who have ailments such as arthritis, rheumatics and respiratory problems. People feel much healthier in good weather and good weather means that people can lead a much more outdoor life and can also keep active for longer periods of the year.

Beautiful scenery

Spain is a country of varied landscapes and has beautiful scenery. It has miles of beautiful sandy beaches, little hidden coves, magnificent mountains, rivers, valleys and thousands of towns and villages steeped in history and tradition - so many beautiful places to choose from to live in.

Relaxed lifestyle

Spanish lifestyle is relaxed, unhurried and less stressful - so much different to that in the UK. Life in Spain is definitely for living. There is a real sense of family and community. Villages and towns come alive in an evening when families, neighbours and friends meet up in the streets, bars and restaurants. The Spanish are friendly, welcoming people and they easily welcome newcomers into their community.

Lower Cost of Living

The cost of living in Spain is much lower than in the UK so money goes further. Food, drink, petrol, utilities and eating out are all less expensive. There are also no high council taxes and utility bills to pay either so a higher standard of living can be achieved.

Excellent medical services

Spain has an excellent medical service and is free of charge to those of retirement age and drawing a pension. Before moving abroad you should get a European Health Insurance Card (Ehic) (the replacement for the E111). This will give you access to free or cheap healthcare. The card will cover you for the first six months of your stay. You will then need to register with the social security system in order to benefit from the healthcare services. Private insurance will enable you to get access to the best healthcare outside of the state system (those who have serious conditions may find it difficult to obtain cover, so consult a specialist independent broker about the best medical insurance.

Convenient Pension arrangements

If you receive a UK state pension, you can have this paid straight into your Spanish bank account providing you have notified the right people and filled in the right forms. If you have not yet retired, you can get a pension forecast. This calculates the amount of state pension earned already and the amount expected at state pension age. If you're in the UK you can fill in form BR19 at your local Jobcentre Plus or, if you're in Spain you can download the form IR138 from the HM Revenue and Customs website www.hmrc.gov.uk/leaflets/c9.htm

If you are already retired and planning to move to Spain make sure you inform the relevant government departments you're moving to make sure you continue to receive your pension. You should also write to The UK Pensions Service and give them your new address. Their address is International Pension Centre, Tyne View Park, Newcastle-upon-Tyne NE98 1BA Telephone: +44 (0) 191 218 7777; Fax: +44 (0) 191 218 3836.

Personal and company pension schemes can usually be paid into Spanish bank accounts.