Note: Figure shows the median level of household net wealth among households with two or fewer adults. Households are classified into generations based on their mean of the adults’ years of birth. Age is the mean age of the adults in the household. Wealth is total household net wealth excluding physical wealth.
Source: Figure 2.3 from ‘A blueprint for a better tax treatment of pensions’, Adam et al (2023). Wealth and Assets Survey, waves 1 to 5 and round 6.
More from IFS
Understand this issue
Raising revenue from closing inheritance tax loopholes
comment
Reforms could be enacted to make inheritance tax fairer and raise revenue.
18 April 2024
Why inheritance tax should be reformed
comment
"Addressing problems in the current system is increasingly important". David Sturrock and Bee Boileau write for The Conversation.
18 January 2024
Sure Start achieved its aims, then we threw it away
comment
"We know that poor children grow up with poor life chances. We know how to ameliorate that. The choice is ours." Paul Johnson writes for the Times.
15 April 2024
Policy analysis
Making mortgage guarantees permanent will help some first-time buyers, but only if they can afford a bigger mortgage
comment
Today, Labour have pledged to make the government’s mortgage guarantee scheme permanent if they win power. We discuss the impact of such a scheme.
6 June 2024
Pensions: five key decisions for the next government
report
How will the next government change pensions policies? This report examines key decisions that need to be taken.
7 June 2024
Key decisions await the pensions minister after the election
press release
How will the next government change pensions policies? This report examines key decisions that need to be taken.
7 June 2024
Academic research
House price rises and borrowing to invest
working paper
We propose a borrow-to-invest motive by which house price gains affect household spending on residential investment.
27 March 2024
The intergenerational elasticity of earnings: Exploring the mechanisms
working paper
We use data covering a single cohort’s first 55 years of life to explain the differences in the intergenerational elasticity of earnings.
3 June 2024
The life-cycle dynamics of wealth mobility
working paper
In this paper, we use 25 years of tax records for the Norwegian population and find considerable wealth mobility over the life cycle.
10 April 2024