Biggest inheritances go to 55s and over - ONS figures

'People generally use inheritances wisely'

Tom Ellis
clock • 2 min read

Those aged 55 and over receive much larger inheritances than younger generations, according to the latest data from the Office for National Statistics (ONS).

The recognised national statistical institute of the UK found that those aged between 55 and 64 who received an inheritance between July 2014 and June 2016 pocketed a median £33,000 each. Those aged over 65 received a median £20,000 while t he median inheritance across all age groups was £11,000. In terms of the source of those inheritances, the ONS found almost two-thirds (62%) of 55 and overs received their inheritance from grandparents, other more distant relatives or non-relatives. One-third (33%) received money after their parents' death and the remaining 5% received money from spou...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Advisers back tax wrapper decision framework in 'complex' environment

Advisers back tax wrapper decision framework in 'complex' environment

Statistics from Great Wrapper Reset paper

Jenna Brown
clock 18 August 2026 • 2 min read
Financial planner Depledge partners with law firm for IHT on pensions prep

Financial planner Depledge partners with law firm for IHT on pensions prep

Unspent pension pots come into scope in eight months

Isabel Baxter
clock 17 August 2026 • 3 min read
CGT: A stealth tax representing advice opportunity

CGT: A stealth tax representing advice opportunity

'The sharpest sense of grievance may be among business owners'

Andrew Aldridge
clock 12 August 2026 • 8 min read