And the world’s happiest pensioners are…
In Finland, according to a recent study*, which places the Finnish capital of Helsinki as the happiest place to retire. The study also revealed that a pension fund of £225,000 is needed to live out a comfortable retirement in this happiest of cities.
The World Happiness Report was used to create a ‘happiness index’ of cities across the world and combined with cost of living, average salary and life expectancy data from over 50 countries. Three more northern European capitals also made the cut, according to the research, with Copenhagen, Reykjavik and Oslo ranking among the world’s top five cities for a happy retirement. Completing this cheerful list is Switzerland’s Geneva, the country’s second most populous city, at spot number three.
UK retirees not far behind
Positively, several UK cities ranked highly on a list that took account not only of the happiest, but the most affordable, places to retire. While Australia’s Melbourne topped this list, Belfast, Edinburgh and London also featured within the world’s top 20 happiest retirement cities on the basis of affordability.
*Audley Villages, 2020
It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.
Information is based on our understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.
Tax treatment is based on individual circumstances and may be subject to change in the future.
Other Insights of interest
2nd June, 2021
Economic Review of May 2021
BoE upgrades growth forecast The Bank of England (BoE) has significantly increased its 2021 growth… Read full insight
28th May, 2021
Taking back control of your retirement
Consumers lack confidence and understanding about issues relating to their pensions, according to two studies…. Read full insight
25th May, 2021
Property Market Review – May 2021
Amazon expanding UK warehouse space As the US e-commerce titan continues to ramp up its… Read full insight
25th May, 2021
Residential Property Market Review – May 2021
Queen’s Speech is ‘significant’ for housing market A key announcement in the Queen’s Speech on… Read full insight