Retirement hotspots put strain on economy
The challenges of an ageing population have been highlighted by a report which reveals the true extent of retirement hotspots in the West-country.
Analysis of official census figures by Prudential found almost one in every five people (19.6%) living in the South West were of retirement age – among the biggest concentration of pensioners in the UK.
West Somerset ranked as the country's second-biggest retirement hotspot, with 29% of people living there drawing their pension.
An ageing population has long been a concern for the South West economy, with the region suffering from a "brain drain" that has seen large numbers of school leavers and graduates vacating the area to pursue their careers elsewhere in the country, coupled with an influx of retirees – considered to put a strain on services such as health and care.
Buy one get one free on main course and specials excludes fillet steaks and beef wellingtons
Must book to qualify 01209 860332 and present voucher on arrival
Contact: 01209 700617
Valid until: Sunday, December 15 2013
Conservative MP for Bridgwater, Ian Liddell-Grainger, said: "One of the big challenges is to keep the young people here. The house price/wages divide in West Somerset is the equivalent of Mayfair, with many people earning between £15-20,000 and some homes costing in excess of £300,000."
East Devon and West Dorset were also retirement magnets, with more than a quarter of people of pension age.