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...

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