The gap between what older and younger generations hold in ISA savings is wider than many might expect, and new data from Bowmore Wealth Group, featured in The Mirror and IFA Magazine, puts the scale of that divide into sharp focus.
Through a Freedom of Information request to HMRC, Bowmore found that the average ISA held by a Baby Boomer now stands at £56,260, almost five times the £12,010 held by a typical Millennial. The Silent Generation goes further still, with average ISA investments of £67,950.
John Clamp, Chartered Financial Planner at Bowmore Financial Planning, commented: "The data highlights a clear generational divide when it comes to ISA savings. While older generations have benefited from decades of compounding and consistent contributions, younger investors appear to be falling behind at a crucial stage in their financial journeys."
With the new tax year now underway, John notes that early engagement with long-term saving remains key: "Even relatively small, regular contributions can build significantly over time thanks to the tax advantages ISAs offer."
The Mirror: People born after 1981 urged to take HMRC action with Sunday April 5 2026 deadline
IFA Magazine: Baby boomers' average ISA savings now £56,620 each – five times that of the £12,000 saved by millennials
- Bowmore Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority.
- The value of your investments can go down as well as up, so you could get back less than you invested.