Financial Planning Week: ISAs peaking later than pension average

The average value of an ISA for a saver aged 70-79 is sitting at £175,421

Hope Coumbe
clock • 1 min read

The average UK pension pot peaks when its owner is in their 50s – two decades earlier than when ISA valuations peak, according to Twenty7tec.

Research published on 22 January for 2024 Financial Planning Week by the advice tech firm showed the total value of most people's pension pots plateaus after they turn fifty. In comparison, the average ISA value continued to rise, reaching its peak when the holder is in their 70s. The firm used anonymised data from 900,000 client records to estimate this, finding the average pension savings for someone aged 50-59 was £223,881. This fell to £175,421 for those aged between 70 and 79. The average value of an ISA for someone aged 70-79 was £109,515, according to the data. This was sign...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Boring Money and Wealth Wizards link to plug advice gap

Boring Money and Wealth Wizards link to plug advice gap

Strategic partnership to improve access to financial advice

Jenna Brown
clock 01 May 2024 • 2 min read
FCA tweaks rules ahead of pensions dashboard connection dates

FCA tweaks rules ahead of pensions dashboard connection dates

Firms will be COBS 19.11 compliant when they connect to CDA

Jasmine Urquhart
clock 01 May 2024 • 1 min read
Pensions campaigner and former WPC chair Frank Field dies aged 81

Pensions campaigner and former WPC chair Frank Field dies aged 81

Field was a former Work and Pensions Committee chair and a welfare champion

Professional Pensions
clock 24 April 2024 • 5 min read