The over-50s are the country’s leading savers claims new market research by Birmingham Midshires, having saved an average £550 over the last quarter.
This was 33 per cent up on the average £413 they saved during the first three months of the year, with men taking the lead on £758 against womens’ £311.
Feckless twenty-somethings performed poorly, saving an average of just £277 in the quarter, down from £295 during the first three months of the year.
People aged between 30 and 50 saved slightly less over the period, down three per cent to £658.
“It is reassuring to see that those in midlife are saving toward their future,” said Jason Robinson, head of savings at Birmingham Midshires.
“With recent scares on the pension crisis, it is important that the over-50s lead the way in saving for retirement. We’d advise all savers to follow this great example and consistently put money aside so that they can enjoy the fruits of their labour later in life.”
He added that Birmingham Midshires recommended that people find the best savings account for their money to make the most of their saving habit.
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