A financial and property expert explains that UK pensioners will be better off living in Bulgaria. UK pensioners who rely solely on the UK state pension can enjoy a really good standard of living in Bulgaria, according to financial and property expert Chris Downham.
Says Chris: “Many people have a dream of retiring to a home in the continental sun and leaving the cold and damp of Britain behind. But in many popular destinations they may have a shock as they find their UK pension hardly covers the basics, let alone providing a decent lifestyle.
“There’s a serious pensions shortfall which is ultimately going to affect up to 30 million people in the UK. We are already looking at a pension’s crisis for many people approaching pensionable age. A high cost of living coupled with unforeseen expenses can end up causing a majority of pensioners to struggle when they should be enjoying a well earned and relaxing retirement. If they don’t have considerable additional savings the Government pension will not be enough to meet the cost of living in many European countries like France, Spain, and Italy. The Government’s solution to this is to ask people to defer retirement to the age of 75.”
The low cost of living is making Bulgaria more and more popular as savings, pensions and income go much further, providing a better quality of life," says Chris Goodall, managing director of Quest Bulgaria.
A survey by the Institute and Trade Union Studies of the Confederation of Independent Trade Unions in Bulgaria last year showed the cost of living for a family of four was just £460 a month. So for two people, an income of just £100 a week will go much further than it could in the UK.
Gesha view is a Bulgarian development ideal for the older property buyer