Brexit: UK retirees rushing to settle in Europe, say financial advisers

“The golden age of British retirees heading to the Costas is probably over,” said John Springford, a migration expert who is director of research at the Centre for European Reform. He pointed to research that found that while young immigrants provided an economic boost in most OECD countries, people turned into a net drain on national finances somewhere between the age of 40 and 45.

“The thing about retirees they are expensive. There is no way Spain would allow lots of Brits to retire there and use their health system unless young Spanish people could come and work in the UK,” said Springfield. “If we don’t have free movement it is very unlikely we would have retirement rights.”