Falmouth in Cornwall may be the town with the smallest average pension pot in the UK at just £15,026, according to a new study.

The highest overall pension pot size of £199,510 was found in Harpenden, Hertfordshire.

Pension advice firm Portafina analysed the average pension sizes based on data of almost 15,000 of its clients.

The study revealed a £184,484 gap in the amount saved by people living in different towns and cities throughout the UK.

Second highest overall was Tyldesley in Manchester (£197,246), ahead of Bexley in Kent (£194,547).

Second smallest was £17,834 in Borehamwood, Lancashire.

Regionally, the north-south divide was evident, according to researchers, with Surrey, Hertfordshire and West Sussex topping the table for average pension pot size. Surrey is also home to the largest number of towns (14) where pot size topped £100k, including Banstead, Weybridge and West Molesey.

Areas with the largest average pension pots:

· Surrey - £77,618
· Hertfordshire - £72,098
· West Sussex - £71,393
· Essex - £70,617
· Renfrewshire - £69,504

Areas with the smallest average pension pots:

· Moray - £40,763
· Nottinghamshire - £44,484
· East Riding of Yorkshire - £46,619
· Argyll - £47,664
· Lincolnshire - £51,470

Jamie Smith-Thompson, managing director of Portafina, said: “Pensions can be confusing, and industry jargon can often mean that people push their planning down the list of priorities.

“These findings not only highlight the pension saving hotspots of the UK, but also the areas where people may lack pension investment knowledge and clear, tailored advice. Those living in areas that have particularly small pension pots could be unaware that their savings are likely to be insufficient when they retire, putting their future lifestyle at risk if they do not have other sources of income.”