Statistics on household wealth

Document type
Other
Corporate author(s)
Great Britain. Department for Work and Pensions
Publisher
DWP
Date of publication
1 September 2014
Subject(s)
Poverty Alleviation Welfare Benefits and Financial Inclusion
Collection
Social welfare
Material type
Reports

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Monitoring household wealth is important to understand the wider impact of workplace pension saving on other forms of wealth. The baseline evaluation report used the first wave (2006/08) of the ONS longitudinal Wealth and Assets Survey (WAS) to show the distribution of the total stock of household wealth for all eligible employees. The latest release of the Wave 3 (2010/12) WAS dataset technically provides the ‘official baseline’ of wealth for the evaluation of Automatic Enrolment. Further improvements were made to Wave 1 and 2 data based on the Wave 3 data and also to the methodology for estimating private pension wealth.

This paper shows an analysis of trends in household wealth based on all three WAS waves spanning the period 2006-12. It presents new data from the third wave of the survey (July 2010 to June 2012) alongside revised estimates from Wave 1 (July 2006 to June 2008) and Wave 2 (July 2008 to June 2010) in an annex. Given the skewed nature of wealth data, and the impact that outliers can have on parametric estimates, we advise caution when looking at the mean values as this can lead to the reporting of spurious change with the inclusion of extreme outliers.

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