Back to all papers

3 Million Pensioner Millionaires: identifying the numbers

This research is an update to IF’s 2012 pensioner millionaires research, and looks at pensioner wealth according to latest available data from the Office for National Statistic’s Wealth and Assets Survey.

Key Findings:

  • Great Britain now has more than 3 million over-65s living in millionaire households.
  • In 2008/10, there were 846,000 over-65s living in households with over £1 million in housing and pension assets.
  • A decade later, 3,137,000 over-65s were living in millionaire households, and that number has more than tripled and nearly quadrupled.

The figures demonstrate just how much housing and pension wealth has been amassed by older generations and also lay bare the stark intergenerational wealth divide opening up between the generations.