Cheapest place to be a pensioner could see you spend £3,028 less than elsewhere in UK | Personal Finance | Finance

Region: Annual costs for pensioners – Difference to UK average (£17,810)
North East: £14,782 – £3,028 cheaper
Yorkshire & The Humber: £15,140 – £2,670 cheaper
Northern Ireland: £15,317 – £2,493 cheaper
Scotland: £15,630 – £2,180 cheaper
Wales: £15,850 – £1,960 cheaper
North West: £16,385 – £1,425 cheaper
West Midlands: £16,560 – £1,250 cheaper
East Midlands: £17,453 – £267 cheaper
East of England: £18,344 – £534 more expensive
South West: £18,522 – £712 more expensive
South East: £21,372 – £3,652 more expensive
London: £21,550 – £3,740 more expensive

iSIPP Managing Director Hrishi Kulkarni said: “Where you live in the country can make a massive difference to how much you will spend a year in retirement with the North East of England the cheapest place currently to be a pensioner.

“However, pensioners cannot simply move to another part of the country on retirement to benefit from a lower cost of living and average figures do not tell the whole story.

“What is clear is that people need to save as much as possible for retirement as the basic spending of £17,810 is not covered by the state pension alone which from April 6 this year is worth around £10,600 a year.

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