Retiring in France
Within 10 years, around 12% of the British population will retire. As shown by a study dating back to 2012, around 70% of prospective overseas buyers are aged 50 (or over) and 59% of them have already considered retirement as the purpose for their overseas property purchase.
France remains one of the most popular destinations. The country of wine and cheese has much to offer, especially for those who wish to clearly mark a turning point after years of hard work. France is also a great place for a person to retire to, for at least the 3 reasons we will list below.
Still before making the final jump, many questions might come to mind : How is the local healthcare system? Is it easy to stay in touch with your relatives and friends back home? Is it easy to make friends over there ?
In December 2012, France has been officially classified as the 14th best destination to retire in the world, and 4th destination in Europe. To help you through the whole process of deciding whether or not to retiring in France, we have listed below what might be the main concerns you have.
Real estate
First, as you might have noticed if you keep on looking for a French property: prices have decreased over the last few years on the French housing market (since 2008). This is obviously linked to the crisis that the real estate market is currently undergoing; nonetheless this situation also leaves great margins for negotiations! Especially if you consider carry on a renovation project in France, which might require extra costs.
Cost of living
Compared to United Kingdom, the cost of living in France is relatively cheap, even though it obviously depends on the area you live in. This recap will give you a clear idea of the real cost of living in France. http://www.numbeo.com/cost-of-living/country_result.jsp?country=France
State pension
Many systems are available to make sure you can still benefit from a state pension, even if you move abroad. Make sure you contact the IPC at least 4 months before moving to France as you need to take care of it before leaving. Expats living in France can transfer their pension to a Qualifying Registered Overseas Pension Scheme (QROPS) or a Qualifying Non-UK Pension Scheme (QNUPS).
Ease of integration
As we can imagine, this is probably one of a question for most prospective expats. Simple question such as « Is it easy to meet new people and make friends? » can sometimes be sufficient to make people back away from the idea of leaving their home country. However, there are 2 things that can make the difference once you are in France. First learning French is probably one of the most important things to do. Then, many British already live in France and you will find local expats and communities with no difficulties. Have a look for Expat forums on the internet, you will surely find answers to most of your concerns/questions and some advice that will reassure you.
Retirement infrastructures
Talking about « integration », you might as well consider moving into retirement communities if you would like to develop a rich social life. You can find plenty of retirement homes in France. The most popular ones are « The Villages » , which are active retirement communities for people of 50 and older. The Villages provide activites such as gym classes, and amenities such as tennis courts and swimming-pools.
Health care
Last but not least, the healthcare system also is a main concern for people moving or retiring to France. Luckily the French system is one of the best healthcare systems in the world. In 2000, France was ranked as first position by the World Health Organization. Most of the time, there is no cost for healthcare coverage in France or if there is, it is often highly subsidized. France’s healthcare system is managed through the «sécurité social » (social security). One of the best thing is probably that everyone is entitled to quality healthcare despite their income level or any other discriminating factors. If you live in France, you will access both public and private facilities for healthcare. Also, waiting lists for surgeries are quite short. The quality of the French healthcare systemp is a very important fact. Especially if you require medical attention, as you should consider your condition of health and how it will evolve over the years.
If you have always dreamed about retiring in France, then why not reward yourself after many years of dedication and hard work ?