21 Apr 2026Flawed pension wealth statistics have overstated the inequality between the old and young, research published by the Institute for Fiscal Studies (IFS) has shown. According to the IFS, 54% of total household wealth was held in pensions in 2020 to 2022, compared with only 38% according to official statistics. It also found that the share of household wealth held by people aged between 20 and 39 increased significantly over the 2010s from 10% between 2020 to 2012 to 18% between 2020 and 2022. Additionally, the share of total household wealth held by the top 10% fell gradually from 45% in 2006 to 2008 to 42% in 2018 to 2020. Laurence O'Brien, Senior Research Economist at the IFS, said: 'Good policy starts with good data. Methodological changes and inconsistencies have made it difficult to get a clear picture of wealth inequality in Britain, and how this has changed over time. Addressing these issues reveals that the share of wealth held by the top 10% has fallen by more since 2006 to 2008 than suggested by official estimates.'