Saving and wealth

Research in this area investigates the level of individuals’ wealth holdings, the extent to which they are split between housing, pensions, cash and other forms, and the factors that influence people to save (or not).

Research questions that have been looked at (or are the basis of ongoing work) include:

  • Have individuals saved adequately for retirement? And, to the extent that some have not, why not?

What drives some people to save more than others? Is it different preferences (e.g. that some people are more patient than others)? Is it a different level of understanding about financial products (pensions, in particular)? Is it financial constraints earlier in life?

Intergenerational Fariness Bulletin - Retirement (from the Institute and Faculty of Actuaries)

| External publications

Andrew Hood contributed an article to this bulletin titled 'The changing generosity of private pension provision and its differential effects across generations'

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Do the rich save more? Evidence from linked survey and administrative data

| Journal Articles

The nature of the relationship between lifetime income and saving rates is a longstanding empirical question and one that has been surprisingly difficult to answer. We use a new data set containing both individual survey data on wealth holdings and administrative data on earnings histories to examine this question. We find, for a sample of English households, evidence of a positive relationship between the rate of private wealth accumulation and levels of lifetime earnings. Even when state pension wealth is included, the top quintile of lifetime earnings have significantly higher wealth to lifetime earnings ratios than the other quintiles. Under this broad measure of wealth, those in the middle of the distribution of lifetime earnings accumulate the least wealth relative to their earnings.

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Can survey participation alter household saving behaviour?

| Journal Articles

Can survey participation alter household saving behaviour?

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