Most expensive place to retire ranked with northern city named priciest for retirees outside of London

The most expensive and affordable places to retire in the UK have been ranked, with 14 out of the 20 most affordable places found to be in the North of England.London was named the most expensive place to retire in the UK, with the cost of living before rent currently totalling £1,039 per person per month in the capital.Those looking to retire in London would need to have an average retirement pot of £187,020 over 15 years post-retirement, or £423,912 if they live to 100.Despite the North of England standing out in the top 20 most affordable places to retire, Leeds is the most expensive place to retire in the UK outside of London.WATCH NOW: GB News panellists discuss state pension triple lock The research, by money experts at the personal loan company Sambla, found the cost of living in Leeds is £843 per person per month before rent.Retirees living in the city would typically need a retirement fund of £151,740, or £343,944 if they lived to 100.The City of Westminster, Maidstone, and Chesterfield made up the rest of the top five most expensive UK places to retire.Sambla compared the cost of living before rent in the UK's top 100 most populated towns and cities, with the current retirement age of 66 and average life expectancy, to determine the most expensive and affordable places for Britons to retire in the UK.The South East of England was found to be a particularly expensive part of the UK for retirement, with seven out of the top 20 towns on the list located there.This includes Greater London, City of Westminster, Maidstone, Chelmsford, Eastbourne, Brighton and Worthing.At the other end of the scale, St Helens was ranked as the most affordable place to retire in the UK, with a cost of living of £565 per person per month, before rent.The retirement fund typically needed would be £101,718 or £230,561 if a person lived to 100, the money experts found.With a cost of living of £583 per person per month before rent, Rochdale is the second cheapest place to retire, while Preston was just behind with £584.The Top 20 Most Expensive Places to Retire in the UKLondonCost of living pp/pm: £1,039Retirement fund: £187,020Retirement fund (if lived to 100): £423,912LeedsCost of living pp/pm: £843Retirement fund: £151,740Retirement fund (if lived to 100): £343,944City of WestminsterCost of living pp/pm: £835Retirement fund: £150,300Retirement fund (if lived to 100): £340,680MaidstoneCost of living pp/pm: £832Retirement fund: £149,760Retirement fund (if lived to 100): £339,456ChesterfieldCost of living pp/pm: £825Retirement fund: £148,500Retirement fund (if lived to 100): £336,600BirminghamCost of living pp/pm: £816Retirement fund: £146,880Retirement fund (if lived to 100): £332,928LincolnCost of living pp/pm: £810Retirement fund: £145,800Retirement fund (if lived to 100): £330,480ChelmsfordCost of living pp/pm: £806Retirement fund: £145,080Retirement fund (if lived to 100): £328,848ManchesterCost of living pp/pm: £790Retirement fund: £142,200Retirement fund (if lived to 100): £322,320Milton KeynesCost of living pp/pm: £789Retirement fund: £142,020Retirement fund (if lived to 100): £321,912CambridgeCost of living pp/pm: £789Retirement fund: £142,020Retirement fund (if lived to 100): £321,912BathCost of living pp/pm: £785Retirement fund: £141,300Retirement fund (if lived to 100): £320,280EastbourneCost of living pp/pm: £777Retirement fund: £139,860Retirement fund (if lived to 100): £317,016LiverpoolCost of living pp/pm: £774Retirement fund: £139,320Retirement fund (if lived to 100): £315,792GlasgowCost of living pp/pm: £767Retirement fund: £138,060Retirement fund (if lived to 100): £312,936WokingCost of living pp/pm: £766Retirement fund: £137,898Retirement fund (if lived to 100): £312,569ReadingCost of living pp/pm: £763Retirement fund: £137,340Retirement fund (if lived to 100): £311,304BristolCost of living pp/pm: £762Retirement fund: £137,160Retirement fund (if lived to 100): £310,896BrightonCost of living pp/pm: £762Retirement fund: £137,160Retirement fund (if lived to 100): £310,896WorthingCost of living pp/pm: £759Retirement fund: £136,620Retirement fund (if lived to 100): £309,672LATEST DEVELOPMENTS:State pension age to rise again - how to check when you can claimPension pot 'gap' sees millions missing out on £62,000What happens to your pension when you die? How inheriting pensions worksThe Top 20 Most Affordable Places to Retire in the UKSt HelensCost of living pp/pm: £565Retirement fund: £101,718Retirement fund (if lived to 100): £230,561RochdaleCost of living pp/pm: £583Retirement fund: £104,922Retirement fund (if lived to 100): £237,823PrestonCost of living pp/pm: £584Retirement fund: £105,156Retirement fund (if lived to 100): £238,354HarlowCost of living pp/pm: £589Retirement fund: £105,930Re

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Nov 11, 2023 - 11:58

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Most expensive place to retire ranked with northern city named priciest for retirees outside of London

The most expensive and affordable places to retire in the UK have been ranked, with 14 out of the 20 most affordable places found to be in the North of England.

London was named the most expensive place to retire in the UK, with the cost of living before rent currently totalling £1,039 per person per month in the capital.

Those looking to retire in London would need to have an average retirement pot of £187,020 over 15 years post-retirement, or £423,912 if they live to 100.

Despite the North of England standing out in the top 20 most affordable places to retire, Leeds is the most expensive place to retire in the UK outside of London.

WATCH NOW: GB News panellists discuss state pension triple lock

The research, by money experts at the personal loan company Sambla, found the cost of living in Leeds is £843 per person per month before rent.

Retirees living in the city would typically need a retirement fund of £151,740, or £343,944 if they lived to 100.

The City of Westminster, Maidstone, and Chesterfield made up the rest of the top five most expensive UK places to retire.

Sambla compared the cost of living before rent in the UK's top 100 most populated towns and cities, with the current retirement age of 66 and average life expectancy, to determine the most expensive and affordable places for Britons to retire in the UK.

The South East of England was found to be a particularly expensive part of the UK for retirement, with seven out of the top 20 towns on the list located there.

This includes Greater London, City of Westminster, Maidstone, Chelmsford, Eastbourne, Brighton and Worthing.

At the other end of the scale, St Helens was ranked as the most affordable place to retire in the UK, with a cost of living of £565 per person per month, before rent.

The retirement fund typically needed would be £101,718 or £230,561 if a person lived to 100, the money experts found.

With a cost of living of £583 per person per month before rent, Rochdale is the second cheapest place to retire, while Preston was just behind with £584.