Average pension pots for UK regions revealed

People living in southern England have a pension post almost twice the size of those in the north, a survey has found.

The data of  5,098 UK savers compiled by online pension provider PensionBee found that the north-south split in England is mirrored in a similar split between the UK’s constituent countries, with Wales, Northern Ireland and Scotland all struggling to match southern pots.

However, the data also suggested that certain regions might still close the gap.

Forty per cent of Welsh customers are paying into a pension every month, making Wales home to the UK’s keenest savers. However, it’s the Northern Irish who lead in terms of contribution size, with savers in the region putting around £310 (€351.4) per month into their pension.

Thanks to these contributions Northern Irish savers can expect a pot of £144,100 at retirement, an amount second only to the £149,900 savers in south eastern England can expect.

Romi Savova, chief executive officer of PensionBee, said: “The government has made it attractive to save and as an industry we need to do the same, by improving customer service and embracing technology.”

©2018 funds europe

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