THERE are 75'000 retired Britons claiming their pension in Spain, according to the Institute for Public Policy Research, and an estimated 40 percent of Britons are planning to retire overseas.
The Balearics is one of the most popular retirement destinations in Spain although the recent surge in the strength of the Euro against the Pound means that Britons currently retiring and moving to Spain will get more for their pensions on the mainland where the costs of property and living and slightly lower.
Nevertheless, Spain is the five most popular destination.
Not only is the country home to the fifth largest overseas community of British pensioners, it is also the fifth most desired retirement destination.
According to the Royal bank of Scotland's places we most want to live list, New Zealand is the most popular destination.
The foreign country where the most Britons are being paid their pension is Australia. There are an estimated 245'000 Britons claiming their pension in Australia and further 47'000 in New Zealand. Closer to Britain, Ireland is the fourth largest overseas retirement community.
The Royal bank of Scotland/Scottish Widows report claims that the recent climb the number of Britons wishing to retire overseas is being fueled by rising council taxes, crime, energy bills, a poor national Health Service and the awful weather most of the country has been forced to endure this winter.