It would be nice to see Phyllis buy her own home. I suspect however she'd rather spend her retirement somewhere like Spain rather than in London. She seems to love that culture and, apart from her job, doesn't appear to have any great ties in England.
I could picture her retiring to a Spanish seaside village, taking up painting classes, getting to know some ex pats and welcoming her ex colleagues from Poplar for holidays. Plus becoming friendly with the locals, advising young mothers, meeting some eligible widowers and generally enjoying life.
I really don't think sharing a bungalow in Bournemouth with Miss Millícent would be her cup of tea.