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

'A lot of fear out there': SJP's Claire Trott on IHT on pensions

'A lot of fear out there': SJP's Claire Trott on IHT on pensions

‘Any change drives advice’, head of advice says

Sophia Panayi
clock 29 June 2026 • 3 min read
Paying IHT on pensions: The potentially 'gruelling' process for personal representatives

Paying IHT on pensions: The potentially 'gruelling' process for personal representatives

'Pension entitlements cropping up much later will cause a big headache for PRs'

Rachel Pinn
clock 25 June 2026 • 12 min read
Turning tax year-end regret into a new tax year opportunity

Turning tax year-end regret into a new tax year opportunity

The most common regret is leaving things too late

Sophie Hall
clock 24 June 2026 • 3 min read