Originally published: MoneyAge, 13 October 2026
More than one in five retired people have increased the proportion of their wealth held in cash since leaving work, with potential long-term care and health costs the main motivation for saving, according to research for Investec Save.
The study, conducted by independent research agency Pureprofile in July, found that 21% of retired people had increased their cash holdings as a proportion of total wealth since retirement, while 14% had reduced their share by gifting money or investing more.
More than a third (36%) said preparing for future care or medical expenses was their main reason for saving.
A further 32% were putting money aside for major purchases, such as home improvements or a new car, while 22% wanted to provide a financial safety net for their children or grandchildren. Another 7% were saving to leave a significant inheritance.
Retired people held an average of 21% of their total wealth in cash, with 19% keeping more than half their wealth in savings accounts.
Access to money for travel and leisure was the biggest savings concern for 37% of respondents, while 22% prioritised maintaining liquidity for potential social care or medical costs. Protecting savings against inflation was the main concern for 18%, while 14% prioritised growing their money and 9% wanted to retain enough cash to leave an inheritance.
