Britain’s best places to retire to for a happy life have been named – and surprisingly it’s not a coastal haven taking the top spot.
The constituency of Amersham and Chesham in Buckinghamshire has been crowned the best place to retire in terms of happiness.
Neighbouring Beaconsfield (also in Buckinghamshire) takes the second spot, while Dorking and Horley in Surrey comes third.
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The analysis by L&G reveals the top 20 constituencies across Britain to retire, looking at a range of factors including housing, health and access to amenities.
“This research gives us a more complete picture of what shapes a happy later life,” says Lorna Shah, managing director, retail retirement, at L&G.
“It’s not just about one factor – it’s the combination of health, social connections, environment, and financial security that all play a part in retirement wellbeing.”
If you’re considering retiring early, don’t miss our piece looking at eight tips to help you retire early. Meanwhile, if you’re planning to move abroad when you finish work, check out our guide to the best and worst countries to retire to from a tax planning perspective.
Britain’s retirement happiness hotspots
The L&G research scored 632 areas across six pillars: health, housing, social and community (for example, opportunities to build social connections and distance to nearest station), nature, local amenities and financial security.
Set in Buckinghamshire’s Chiltern Hills – an area of outstanding national beauty – the market towns of Chesham and Amersham took the number one spot, scoring 74 out of 100 overall.
It performs very well on health, with a score of 93, reflecting a high proportion of over 65s in good physical and mental health, as well as good access to GPs. It also scores highly on financial security (78), and across the other remaining pillars: nature (72), social and community (69), housing (66), and local amenities (64), making it a well-rounded environment for later life.
It’s also easy to get to the capital – both towns sit at the end of the Metropolitan line – for retirees wanting some London culture.
The 20 best areas to retire are all in England, spanning counties such as Kent, West Sussex, Suffolk and Cheshire.
While much of London performed poorly in terms of financial security in later life, the capital scored well for access to amenities, nudging some constituencies up the league table. Ruislip, Northwood and Pinner made the top 20 coming in at 14th overall.
Mid Dunbartonshire (East Dunbartonshire) and Monmouthshire (Gwent) have been named the best places to retire in Scotland and Wales respectively.
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Overall best areas to retire in Britain
Rank
Constituency
County
Overall score
Housing
Health
Social & community
Financial
Nature
Amenities
1
Chesham and Amersham
Buckinghamshire
74
66
93
69
78
72
64
2
Beaconsfield
Buckinghamshire
72
73
91
69
79
62
61
3
Dorking and Horley
Surrey
71
70
85
82
72
66
44
4
Godalming and Ash
Surrey
71
63
86
71
77
69
54
5
Mid Sussex
West Sussex
70
69
81
80
77
59
53
6
Woking
Surrey
70
69
84
74
80
72
30
7
Farnham and Bordon
Surrey
70
66
85
71
69
69
55
8
Esher and Walton
Surrey
69
67
91
54
76
77
45
9
Suffolk Coastal
Suffolk
69
52
59
78
76
69
74
10
East Grinstead and Uckfield
West Sussex
68
66
82
79
76
59
42
11
Henley and Thame
Oxfordshire
68
52
85
61
79
69
60
12
Sevenoaks
Kent
68
55
78
77
72
72
44
13
New Forest West
Hampshire
68
58
82
69
65
62
71
14
Ruislip, Northwood and Pinner
Outer London
68
50
85
77
77
59
51
15
Tatton
Cheshire
67
53
67
73
91
55
64
16
West Dorset
Dorset
67
75
67
69
70
56
71
17
Surrey Heath
Surrey
67
65
78
76
68
77
28
18
Maidenhead
Berkshire
67
71
88
59
73
68
43
19
Windsor
Berkshire
67
69
88
59
70
68
48
20
Guildford
Surrey
67
67
88
53
76
66
54
Money has strong implications for later life wellbeing
The financial pillar, which covers pension income, cost of living, housing affordability and deprivation levels, has a significant effect on later life wellbeing, according to L&G.
Sheffield Hallam (South Yorkshire), West Aberdeenshire and Kincardine (Aberdeenshire), and Tatton (Cheshire) are all top performers in this area.
A previous study from L&G and the Happiness Research Institute, an independent Danish think tank focusing on wellbeing, happiness and quality of life, found that the happiest retirees have an average monthly income of £1,700, but only 38% of retirees receive this or more, while many live on much less.
The stability of that income was also a factor. Retirees with a guaranteed income report higher levels of satisfaction and face fewer affordability challenges. Those with an annuity – which pays a guaranteed income for life in exchange for a pension – are more likely to report lower levels of stress (51%) and the highest level of financial confidence (24% versus 21%) compared to those without one.
If you have a workplace pension or personal pension, you’ll need to decide how to take money out when you retire. While an annuity pays a guaranteed income, some people prefer the flexibility of drawdown, which means you can choose how much you want to withdraw.
Some retirees like to do a combination of the two, taking a hybrid approach.
We look at how much you need for a comfortable retirement in a separate piece.
