A quarter of 55-64s hold under £30,000 in pensions

A quarter of 55–64-year-olds with private pensions they have not yet started taking have less than £30,000 in those pensions, and around one in five of this age group have no private pension wealth at all, based on the ONS Wealth and Assets Survey 2020–22. Women aged 55–64 with private pension wealth hold a median of £105,000, estimated at nearly £90,000 below men's, using the same survey. Around 28% of 55–64-year-olds rent, according to the DWP Family Resources Survey 2022/23. The typical saver first accesses a defined contribution pension at age 60, according to the FCA Financial Lives Survey 2024.

The figures appear in a working paper, Retirement transitions, published by the International Longevity Centre UK on 15 September 2026, produced with the Standard Life Centre for the Future of Retirement.