Dataset: Family Resources Survey (Family (Benefit Unit), Household)

Field: Family (Benefit Unit) or Household, total amount of savings and investments, in bands, in year prices (in nominal terms)

Description

The total amount of savings and investments family (benefit unit) or household posses. Amounts presented in bands, in year prices (in nominal terms), as reported by FRS respondents, where:

• A household consists of one person living alone or a group of people (not necessarily related) living at the same address, who share cooking facilities and share a living room or sitting room or dining area. A household will consist of one or more benefit units.
• A benefit unit may consist of: a single adult, or a married or cohabiting couple, plus any dependent children. Same-sex partners (civil partners and cohabitees) have been included in the same benefit unit since January 2006.
• The FRS asks questions about all savings and investment products, including bank and building society accounts, and shares. Interest and dividends are received on savings and investments. For details of savings and investments covered by the FRS see Savings and investments.

Classification

Applicable to: all individuals in a household or a family (benefit unit).

• No savings
• Less than £1,500
• £1,500 but less than £3,000
• £3,000 but less than £8,000
• £8,000 but less than £10,000
• £10,000 but less than £16,000
• £16,000 but less than £20,000
• £20,000 but less than £25,000
• £25,000 but less than £30,000
• £30,000 or more

Number of categories: 10

Quality Statement

Estimates for savings and investments should be treated with caution, as they are likely to be under-estimates, since respondents often inaccurately report their account details.

Note that banded savings and investments do not include assets held by children in the benefit unit or household.

Further information can be found in the FRS Background Note and Methodology here.

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