6. Plymouth
Regularly topping ‘Best Places to Retire’ lists, Plymouth is a coastal town with an affordable property market and plenty for retirees to enjoy. According to Profile Pensions, Plymouth is desirable because of its plentiful parks, cafes and cultural centres. Devon is particularly popular because of its stunning countryside, despite higher property prices than other regional areas in the UK.
Population: 235,000
Median House Value at Plymouth: £185,000
Median Monthly Rent at Plymouth: £498
Tip 4: Make sure beneficiary details are up to date- In 2015, the chancellor abolished tax on death on defined contribution pensions for anyone who dies before the age of 75. This means that any remaining pension can pass to your beneficiaries tax-free, subject to not exceeding the current £1,055,000 lifetime allowance and providing that the company pays out within two years of the date of death. Ensure that your beneficiary details are up to date.