The number of Britons over the age of 50 putting money into savings accounts rose by 33 per cent in the last three months, according to research.
Furthermore, more men are putting money into savings accounts, while fewer women are doing so, the Birmingham Midshires study shows.
The figures reveal that savings for men rose by 27 per cent, while those of women dropped by 23 per cent.
Jason Robinson, director of savings operations for Birmingham Midshires, commented: "It is reassuring to see that those in midlife are saving toward their future.
"With recent scares on the pension crisis, it is important that the over 50s lead the way in saving for retirement.
Mr Robinson continues that many more UK residents should be encouraged to put money into savings accounts in order to provide for reaching retirement.
Birmingham Midshires provides customers with a range of financial services, including savings accounts with internet banking facilities.
The company also provides a range of mortgages , with products designed for first-time buyers and buy-to-let investors.
More over 50s in UK with savings accounts, study shows
More over 50s in UK with savings accounts, study shows
Mon, 07 Aug 2006
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