Make your pension go further and live for around £75 per month in France!
According to the latest LV= State of Retirement Report, 6.25 million (28%) Britons aged over 50 have no pension plan in place. This news highlights the shocking realisation that the number of Brits relying entirely on a state pension when retirement hits will increase significantly from the 1.2 million whom currently depend on it in the UK.
Scarily, those living on a basic state pension of around £5,587 per annum (not taking into account additional benefit income) make around 51% less than a person working full time on a minimum wage of £11,477 per year it has been discovered. Even more worrying news identified in the report shows that when asked if they could live on the equivalent of the minimum wage in retirement, 43% of participants said they would not be able to survive on that alone while 27% said they would find it extremely difficult.
Danny Silver, expert in French real estate and MD of The Villages Group, comments,
“The outlook for British retirees looks very grim. It’s worrying to think that millions of 50+’s aren’t planning for their retirement but I believe that they simply can’t afford to save what is needed to live up to UK standards. Nearly 50% of todays over 50s will really have to save hard and work longer if they want a decent income upon retirement – 45% will have to work and save for 11 years or more beyond their State Pension Age to imitate their working life living standards according to research from the Pensions Policy Institute.
“With this in mind, a better option would be to move somewhere where the standard of living is exceptionally high but the cost of living is far lower than that of the UK. For 50+’s who do not believe they can rely entirely on the state pension to meet UK living standards, The Villages in France could well provide the answer. In France, the cost of food and commodities is approximately 20% lower than the UK while restaurants and eating out is 30% lower and, in my opinion, 500% better. As well as this, France is second only to Japan for life expectancy so moving to France in your later years to avoid the doom and gloom of the UK makes absolute sense.”
Silver continues,
“Right now, retirement villages in the UK are grabbing a lot of attention – the BBC did a recent article explaining that they could be the answer for the UK’s ageing population but I believe that our active living villages in France for anyone over 50 offer a far better option. In the UK maintenance such as gardening, swimming pools and window cleaning can cost around £600 per month where as ours which also includes French land taxes as well as full entertainment program equates to approximately £75 per month!”
For those in their third age thinking about a place to live a great life at an affordable price, the Languedoc-Roussillon region in France will make for a wonderful place to relocate. Chosen for its three C’s – climate, coast and countryside as well as being one of the best places in the world to go canal boating, Languedoc is one of the most visited parts of south west France and as a result of Languedoc’s popularity, The Villages Group has decided to develop their first “active living” resort ‘village’ for those over 50 to enjoy at the UNESCO World Heritage Site of Canal du Midi, one of Europe’s longest and widest canal systems.
The Villages Group will provide a village community of 107 villas on the banks of the Canal du Midi. This village site will afford full on-site amenities including tennis courts, indoor pool, gymnasium and quality entertainment and cultural programmes, perfect for living an active and fulfilling life within a community of like-minded individuals.
For more information please contact The Villages Group on + 33 1 4007 8625, email villages@pdfparis.com or visit www.thevillagesgroup.com.