And finally…Edinburgh pensioners £50,000 better-off than Glaswegians

polymer-notesNew research has revealed a difference in the pension pots of people heading towards retirement in Edinburgh and those in Glasgow of over £50,000.

A survey carried out by insurance firm RIAS of over-50s living in the UK’s 10 biggest cities revealed household pension pots in Edinburgh average £120,532 compared to £68,269 in Glasgow.

The data also showed that Londoners heading for retirement are doing so with pension pots - which include all money in private and work pensions but excludes the state pension - of £145,000, which is almost triple the £52,986 saved by people in the Yorkshire city of Bradford.

Peter Corfield, managing director at RIAS, said: “Pension pot sizes have never been so important, especially as people get to grips with working and living longer.

“Added to this the recent pension freedom reforms have given the UK’s over-55s more opportunities to use their pension pots differently to plan for their future.”