Retirement is a long-awaited and important period for most people, it is also the moment in one's life when one may make the decision to move abroad to enjoy life to the fullest, especially if certain creature comforts such as good weather are not that common in one's home country.
It goes without saying that the country in which you decide to retire will determine the quality of life you will enjoy especially if you wish to move to a capital city. A recent study carried out by Audley Village, a property builder and manager in the British retirement property industry, has analysed the retirement age, state pension schemes and health status of 37 OECD (Organisation for Economic Co-operation and Development) countries and their respective capitals to discover where the best conditions for retirement reside. Among the best places to retire in 2021, Madrid has come out on top with the best quality of life.
Spain also tops the list of countries of best places to retire, largely because it has the second-longest period of retirement, averaging 22 years, and one of the longest life expectancy rates, almost 84 years. Spain is also among the top 10 countries to retire to in terms of pensions, with an average pension equivalent to 83.4% of pre-retirement income. What's more, the country also has the best levels of health, an indicator that analyses health risks, availability of drinking water, malnutrition and causes of death according to Audley Village.
Falling behind Spain are countries such as Greece, Austria, Italy and Luxembourg, with an average retirement age below 63, and an average life expectancy above 82. Meanwhile, in Italy, Luxembourg and in Austria, the replacement rate reaches 90%, in Spain, it remains at 84%.
As far as capital cities are concerned, Madrid was confirmed as the leading capital city to retire to, with the best standard of living for retirees so why not consider retiring in the European city with the best quality of life?