Pension income to fall by 39pc in UK
The forecast could mean that those relying primarily on their pension to fund their lifestyle suffer a nasty shock when they retire, warn property experts. Indeed, a growing number of older residents are turning into mature landlords to fund their later years, or support their pension income.
Danny Silver, Managing Partner of The Villages Group, an English-speaking active living community for over 50's nestled in the heart of the Languedoc-Roussillon region of France, argues that overseas investment is the answer:
"While people in retirement are likely to have fewer outgoings, it is still hard to imagine that anyone would not feel the pinch if they lost over a third of their income overnight. Even if their pension is topped up by savings and investments or part-time work, it is still likely to be quite a shock.
"This is where living at "Le Village-Canal du Midi" would benefit any retirees looking for a way to enjoy their golden years without money worries. For just £30 a week per person for all management, maintenance and all on-site activities, you can live in the heart of the Languedoc-Roussillon region of South West France, where village life is tranquil and a great day out can be had in the seemingly endless countryside with many a fete, art exhibition or concert in the summer months which will cost you precisely nothing!"
When it comes to the day-to-day cost of living in France, it's a well-known fact that food and wine can be bought so much cheaper than in the UK. When shoppers make use of locally grown produce and shop at individual suppliers and markets, the euros go far further than the pounds do when we Brits stock up at the weekly Sainsburys or Tesco shop.
But what about taxes and utilities, medical or care bills etc? The continuous list of expenses that push up the cost of living so significantly in the UK? The news is in Frances's favour, argues Silver.
The Languedoc region boasts the world´s best health care (at no cost if you´re a legal resident/investor or an EU visitor) so no need to worry about having a heart attack over the price of cheese ever again, with over 125 doctors close to "Le Village, Canal du Midi" - every ache and pain can be seen to within a few minutes from your door.
In fact "Le Village-Canal du Midi" is a surprisingly affordable place to call home. Danny Silver explains that a couple could live here on 25% less than the living costs of the UK, allowing over 50s living at Le Village to enjoy the gastronomic delights the region has to offer, excellent weather and a full and exciting lifestyle for a lot less.
Which would you choose?