Ever increasing numbers of British people are considering leaving the UK as rising living costs squeeze their ability to save for a happy retirement, a global financial advisory giant has revealed. The warning comes as UK households face a fresh wave of increases at the start of the new financial year. Council tax bills are rising by around 5% in many areas, water bills are increasing, and broadband and mobile costs are also soaring, together adding more than £200 a year to typical household outgoings.

At the same time, surveys consistently show a significant proportion of UK adults are reducing or pausing long-term savings as disposable income is squeezed, highlighting the growing pressure on retirement planning. deVere regional director James Green says his firm is now hearing of ever increasing numbers of people who are contemplating – or have already left – the UK. He said: “In our experience, an increasing number of people are questioning whether the UK remains the best place to build and protect their long-term financial future. Rising costs are eating into savings capacity, and pensions are often one of the first areas to be cut back.

“This, of course, has serious long-term consequences, and people are acutely aware of this.”

The latest increase to the full new State Pension takes it to just over £12,500 a year, but this provides only a basic level of income and falls well short of what most people will need to maintain their lifestyle in retirement.

Green says this growing gap between expectations and reality is becoming a key driver of behaviour.

“When people realise their retirement savings aren’t keeping pace with the cost of living, they start to look at alternatives,” he added.

“For many, that means considering whether relocating could improve their financial position.”

The trend reflects a broader reassessment of financial planning in the UK. The State Pension age continues to rise, while market volatility and shifting interest rate expectations are adding uncertainty to long-term investment outcomes.

At the same time, inflation continues to erode real returns, and cash savings lose purchasing power.

Short-term financial pressure is now translating into long-term risk.

“Reducing or pausing pension contributions, even for a short period, can have a significant impact over time. Compounding works over decades, and missed contributions are difficult to recover,” added the regional director.

The financial expert says increasing global mobility is making relocation a more viable option for many, pointing out: “People are more internationally mobile than ever. If the numbers no longer stack up in one country, they’ll explore others where their income, savings and investments can work harder for them.”

Jurisdictions offering lower living costs, more favourable tax environments, and greater financial flexibility, such as Portugal, Spain and Italy, for example, are becoming increasingly attractive to UK residents reassessing their options.

The shift also highlights the growing importance of professional financial advice.

“A financial adviser helps people make informed decisions, particularly when cross-border considerations are involved. It’s about building a strategy that takes into account tax, income, risk and long-term objectives,” says James Green.

Cost remains a concern for many, but he warns that avoiding advice can prove costly.

“The absence of a clear plan often leads to inefficient decisions that can erode wealth over time. The cost of not having structured advice is often far greater,” he notes.

“People should fully understand how they are being charged and what they are receiving in return. A lack of clarity, or advice that feels generic, should raise concerns.”

Other red flags include promises of guaranteed returns, limited regulatory oversight, and a failure to tailor advice to individual circumstances.

The broader picture is one of increasing complexity. Longer life expectancy, evolving work patterns, and the rise of cross-border lifestyles are changing how people need to think about retirement.

He says the current environment is accelerating that shift.

“Pension planning is no longer something people can afford to delay. Rising costs are forcing decisions now, and for many, that includes reassessing where they choose to live and retire.”

Green concludes: “Britons are under growing financial pressure, and that’s beginning to influence long-term decisions in a very real way.

“We expect to see more people actively considering leaving the UK as they look for better outcomes for their savings, their pensions, and their long-term financial security.”