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Retirees remain close to where they worked

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01/07/2015
The location of your former job often decides where people locate once they retire, Prudential has said.

The insurer analysed Census data and found career choices reflected which part of the country people live when they retire.

Stoke-on-Trent was revealed as a hotspot for retired tradesmen, many of whom would have worked in the town’s pottery industry.

In total over a quarter (27%) of its retirees used to be skilled manual workers.

Kensington and Chelsea has a higher proportion of retired estate agents than anywhere else, the study reported.

Elsewhere, in the Surrey area of Spelthorne, located close to Heathrow airport, retirees were more likely to have worked in transport than anywhere else in England and Wales.

Other unsurprising results included Cambridge and Oxford being the home to the highest proportion of retired education workers.

The seaside town of Blackpool has the highest level of people who have retired from working in the hotel, hospitality and catering sector.

Stan Russell, retirement income expert at Prudential, said more people were choosing to stay close to where they used to work.

“Our analysis appears to challenge the traditional image of retirees spending their golden years by the sea or in the countryside. The trend seems to be that many people are retiring close to where they have spent their working lives,” he said.

“Upping sticks and moving home when the time comes to give up work is an expensive business and for many retirees the costs may be just too prohibitive. Anyone approaching retirement or contemplating such a move would do well to speak to a professional financial adviser and agree how to turn their retirement plans into reality.”

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