Wealth and the over 50s: UK report

  • UK

28th January 2015, Centre for Economic and Business Research/Saga

Centre for Economic and Business Research/Saga

A Saga report shows that the nation’s over 50s hold a larger proportion of the UK’s assets than they did at the start of the financial crisis. A

The Saga study, commissioned from the independent Centre for Economic and Business Research (CEBR), found that the over 50s hold 68.3% of all UK household wealth (£7.8 trillion), 77.3% of all financial wealth (£1.2 trillion) and 66.2% of all property wealth (£2.5 trillion). This is a modest increase from Q3 2008 when the figures were 67.6%, 74.4% and 65.3% respectively. While this has been partly driven by increasing numbers of over 50s and rising property values, Saga’s research found that depressed bond yields and annuity returns have meant returns on savings have actually declined. Pensions wealth, meanwhile, also increased slightly since 2008 – from 70.3% to 70.8% (£3.4 trillion), but again, the new flexibility to access pensions savings is expected to soften this trend. For more information visit Saga here.