People over 50 are emerging from the pandemic with more financial security than younger adults, according to research from Saga.

The survey by the over-50s specialist also found that holiday plans are second only to seeing family and friends in 2021, with many planning extended trips abroad once they can travel.

Less than a quarter of the over-50s polled said their financial situation has worsened during the pandemic compared to 40% of people under 50.

Fewer than one in 10 aged over 70 have seen their finances decline.

One in five over-50s plan to take a bigger holiday than usual and will use savings made during the pandemic to help them do so, said Saga.

Nearly half (45%) of those planning a trip will depart for two weeks or more, suggesting that many people over 50 could be planning a trip of a lifetime once conditions allow.

In December, Saga saw a 78% increase in traffic to its website pages as people started to think about extended trips in 2021.

Popular searches included trips on the Trans-Siberian Railway, tours across India’s Golden Triangle, voyages across New Zealand and trips to Uzbekistan.

The research also found stronger mental resilience among the older generation.

According to Saga’s data, just over half (55%) of adults under 50 admit to struggling mentally after a year of the pandemic, while just 31% of people over 50 feel this way.

Euan Sutherland, group chief executive at Saga, said: “It’s been a very tough year for everyone with a great deal of loss, but people over 50 have proven themselves the resilient generation. They are emerging from the past year mentally stronger and ready to enjoy their lives again, planning new adventures.

“No wonder we’ve seen a surge in people researching a holiday on the Trans-Siberian railway or to India’s Golden Triangle.”

The survey quizzed 3,082 adults in March – 2,060 of respondents were over 50 and 1,022 were under 50.