Pensions - Articles - 'Pensions wealth is growing at a rate of knots in the UK'

 A great deal has changed since then. Auto-enrolment has hit its stride, as millions of people find themselves with a workplace pension for the first time. The pension freedoms have also encouraged more people to save for the long term; our own research has found that 16% of the population have increased their pension contributions as a direct result of the reforms in April this year. We can all take heart from the rapid pace of pensions wealth growth, but we can’t afford to be complacent – we need to make sure this momentum continues.’

  

  

 Main points
 In July 2012 to June 2014:

 aggregate total wealth of all private households in Great Britain was £11.1 trillion

 the wealthiest 10% of households owned 45% of total aggregate household wealth

 the least wealthy half of households owned 9% of total aggregate household wealth

 median household total wealth was £225,100

  

 Changes in wealth between July 2010 to June 2012 and July 2012 to June 2014:

 aggregate total wealth increased by 18% (aggregate total wealth excluding pension wealth increased by 13%)

 for the wealthiest 10% of households, aggregate total wealth increased by 21%

 for the least wealthy 50% of households, aggregate total wealth increased by 7%

 median total wealth increased by 4% from £216,500 to £225,100. 

  

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