Surrey, Hertfordshire, East Sussex and Bristol completed the top five list, with the average pensioner in all regions having a pot size exceeding £120,000.

Partnership analysed almost 2,500 customers taking a pension and included all the funds a person has used to purchase an enhanced annuity. For example, the typical annuitant in Essex has two funds which combined reach the average value.

Pensioners in Shropshire had the most modest pots at £44,336.

Andrew Megson, managing director of retirement, Partnership, said: “These figures reveal that a fairly concentrated part of Southern England [Essex, Surrey, Hertfordshire and East Sussex] boasts the largest pension pots in the UK, more than double the amount saved by those in Shropshire.

“Intermediated sales tend to be larger than average as these retirees are prepared to pay for financial advice but it does raise concerns as it suggests they may have access to better outcomes.”

Megson believes it is ‘vital’ to ensure retirees receive the most income they can from their retirement savings – regardless of the size of their pot – but says it is important to make sure to find the right option.

“A 65-year-old man with a pot of £125,478 who has common conditions such as high blood pressure, obesity and diabetes could receive £1,050 or 14% more per year by shopping around so it is worth speaking to an adviser.”

On a national level, retirees in London (£110,775) and the South East (£101,972) boasted the biggest single pots – almost £43,000 more than people in Northern Ireland (£67,866).