More Scots over 55 saving for travel than to leave money for relatives, study says

More Scots over the age of 55 are saving money to go travelling than are putting away cash to leave to their families, according to new research.

A Bank of Scotland study found 28% of people in the age bracket are saving up for a trip.

This compared with 13% who said they are putting money away in the short-term to leave to their relatives. Just 2% of people aged 45-54 are saving for that purpose.

The findings, compiled by YouGov, are contained in the bank's How Scotland Lives research.

Bank of Scotland director Mike Moran said: “With more people living longer, it's encouraging to see that older Scots are putting their savings to good use in later life.

“Getting into the habit of saving a little each month can make the difference when it comes to treating yourself as you approach retirement but it's good to see that older Scots are also focused on keeping some money back for a rainy day.''

The research was based on 2,007 online interviews with adults living in Scotland