Dorset is the best place in England and Wales to retire based on quality of life, a study published by Prudential has found.
According to the life and pensions provider’s latest Quality of Retirement Index, which analyses Office for National Statistics data, pensioners in the South West enjoy the highest quality of life.
The retirement index ranks the local authority areas within England and Wales using a set of core quality of retirement indicators. These include good health, home ownership, marital status and propensity to travel among the over-65s, as well as the percentage of the population providing ongoing unpaid care.
Vince Smith-Hughes, retirement expert at Prudential, said: “People looking to secure a retirement in an area where the quality of life is already high, or those simply looking to be as financially comfortable as possible when they give up work, are well advised to follow the simple rule of saving as much as possible as early as possible in their working lives.”
The second highest ranked retirement location was Solihull, scoring 44 out of 50.
Joint third were Buckinghamshire, North Somerset and the Vale of Glamorgan with a score of 42.
Wokingham, Hampshire, Monmouthshire, Poole and South Gloucestershire tied for sixth place, which means that the South West of England held four of the top 10 ranking areas.
Mr Smith-Hughes said: “The decisions pensioners are faced with can be the biggest they will ever have to make.
“To take best advantage of the newly introduced flexible retirement income choices, professional financial advice should form a vital part of preparation for retirement.”
Adviser view
James Garman, financial planner at Nottingham-based Retirement Specialist, said: “There does tend to be a concentration of pensioners heading to the South East, the warmer end of the country. People are also gravitating more to the south coast, after being priced out of Bournemouth and Brighton.”
