Midlifers’ average pension pot stands at £27,000

L&G research found that 5 million people aged 40 to 54 are not on track for an adequate retirement, based on a study of more than 8,000 people conducted by Public First. It said the average pension pot for a 47-year-old is £27,000, and that the median pension saving for a 45 to 54-year-old in work is also £27,000, according to the Wealth and Assets Survey. Renters in this age group have median pots of £4,000 and part-time workers £6,000. The report also found that 41% of 40 to 54-year-olds who are in work but not saving into a pension cite affordability concerns.

Legal & General published the research on 18 March 2026, as part of its new Decades Ahead programme aimed at improving long-term financial wellbeing.