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DDI2.5 XML CODEBOOK RECORD FOR STUDY NUMBER 6709 Wealth and Assets Survey, Waves 1-5 and Rounds 5-7, 2006-2022: Secure Access 670910.5255/UKDA-SN-6709-9 Office for National Statistics, Social Survey Division <a href="https://www.nationalarchives.gov.uk/information-management/re-using-public-sector-information/uk-government-licensing-framework/crown-copyright/" target="_blank">© Crown copyright</a>. The use of these data is subject to the <a href="https://ukdataservice.ac.uk/app/uploads/cd137-enduserlicence.pdf" target="_blank">UK Data Service End User Licence Agreement</a>. Additional restrictions may also apply. Department for Business, Innovation and SkillsDepartment for Work and PensionsDepartment for Communities and Local GovernmentHM Revenue and CustomsScottish GovernmentFinancial Conduct Authority UK Data Service 25 March 2011 HOUSINGBEDROOMSWEALTHINCOMEHOUSEHOLDSHOUSEHOLDERSFAMILY MEMBERSCOHABITINGRESIDENTIAL BUILDINGSHOUSING TENUREHOME OWNERSHIPSOCIAL HOUSINGRENTED ACCOMMODATIONLANDLORDSTIED HOUSINGFURNISHED ACCOMMODATIONUNFURNISHED ACCOMMODATIONHOME BUYINGHOUSING AGEFINANCIAL COMPENSATIONREDUNDANCY PAYTRUSTSHEALTHILL HEALTHPHYSICAL MOBILITYDISABILITIESINTELLECTUAL IMPAIRMENTINCONTINENCESOCIO-ECONOMIC STATUSSPOUSESHOUSING ECONOMICSHOUSING FINANCERENTSINSURANCE CLAIMSMOTOR VEHICLESAIRCRAFTBOATSBICYCLESCARE OF DEPENDANTSAGESTATUS IN EMPLOYMENTDEBTSCREDIT CARD USEBANK ACCOUNTSSAVINGSINVESTMENTSHARESPENSIONSPRIVATE PENSIONSASSETSSTUDENT LOANSFULL-TIME EMPLOYMENTPART-TIME EMPLOYMENTEMPLOYMENT HISTORYEDUCATIONAL BACKGROUNDQUALIFICATIONSOCCUPATIONAL QUALIFICATIONSEDUCATIONAL COURSESMATHEMATICSPARTNERSHIPS (BUSINESS)PROFITSOCCUPATIONSPENSION BENEFITSINFORMAL CAREBUSINESSESMATERNITY PAYTAX RELIEFFRINGE BENEFITSSUBSIDIARY EMPLOYMENTFAMILY BENEFITSCARERS' BENEFITSSTATE RETIREMENT PENSIONSSICKNESS AND DISABILITY BENEFITSSOCIAL SECURITY BENEFITSLAND OWNERSHIPPERSONAL DEBT REPAYMENTEMPLOYMENT PROGRAMMESPLACE OF BIRTHETHNIC GROUPSRELIGIOUS AFFILIATIONRELIGIOUS ATTENDANCEECONOMIC ACTIVITYUNWAGED WORKERSJOB HUNTINGUNEMPLOYEDEMPLOYMENTEMPLOYEESSELF-EMPLOYEDSUPERVISORY STATUSWORKPLACEPERSONAL FINANCE MANAGEMENTHOUSEHOLD BUDGETSCOSTSCOST OF LIVINGCHILD SUPPORT PAYMENTSEDUCATIONAL FEESRETIREMENT AGEEARLY RETIREMENTOLD AGE BENEFITSPENSION CONTRIBUTIONSFINANCIAL ADVICEFINANCIAL SERVICESCOMMERCIAL BUILDINGSTOP MANAGEMENTSELLINGWAGESSICK PAYOCCUPATIONAL PENSIONSPRIVATE PERSONAL PENSIONSSECOND HOMESINHERITANCEMORTGAGESLOANSCARSMOTORCYCLESHIRE PURCHASEMAIL ORDER SERVICESGIFTSUNEARNED INCOMEBONDSINSOLVENCIESINCOME TAXSOCIAL SECURITYTAXATIONEXPENDITUREALIMONYSURVIVORS' BENEFITSWAR VETERANS' BENEFITSLIFE INSURANCEINTEREST (FINANCE)EDUCATIONAL GRANTSROYALTIESRETIREMENTHEALTH STATUS Income, property and investment/savingLabour and employment Abstract copyright UK Data Service and data collection copyright owner.The Wealth and Assets Survey (WAS) is a longitudinal survey, which aims to address gaps identified in data about the economic well-being of households by gathering information on level of assets, savings and debt; saving for retirement; how wealth is distributed among households or individuals; and factors that affect financial planning. Private households in Great Britain were sampled for the survey (meaning that people in residential institutions, such as retirement homes, nursing homes, prisons, barracks or university halls of residence, and also homeless people were not included). The WAS commenced in July 2006, with a first wave of interviews carried out over two years, to June 2008. Interviews were achieved with 30,595 households at Wave 1. Those households were approached again for a Wave 2 interview between July 2008 and June 2010, and 20,170 households took part. Wave 3 covered July 2010 - June 2012, Wave 4 covered July 2012 - June 2014 and Wave 5 covered July 2014 - June 2016. Revisions to previous waves' data mean that small differences may occur between originally published estimates and estimates from the datasets held by the UK Data Service. These revisions are due to improvements in the imputation methodology. Note from the WAS team - November 2023: "The Office for National Statistics has identified a very small number of outlier cases present in the seventh round of the Wealth and Assets Survey covering the period April 2018 to March 2020. Our current approach is to treat cases where we have reasonable evidence to suggest the values provided for specific variables are outliers. This approach did not occur for two individuals for several variables involved in the estimation of their pension wealth. While we estimate any impacts are very small overall and median pension wealth and median total wealth estimates are unaffected, this will affect the accuracy of the breakdowns of the pension wealth within the wealthiest decile, and data derived from them. We are urging caution in the interpretation of more detailed estimates." Survey Periodicity - "Waves" to "Rounds" Due to the survey periodicity moving from "Waves" (July, ending in June two years later) to “Rounds” (April, ending in March two years later), interviews using the ‘Wave 6’ questionnaire started in July 2016 and were conducted for 21 months, finishing in March 2018. Data for round 6 covers the period April 2016 to March 2018. This comprises of the last three months of Wave 5 (April to June 2016) and 21 months of Wave 6 (July 2016 to March 2018). Round 5 and Round 6 datasets are based on a mixture of original wave-based datasets. Each wave of the survey has a unique questionnaire and therefore each of these round-based datasets are based on two questionnaires. While there may be some changes in the questionnaires, the derived variables for the key wealth estimates have not changed over this period. The aim is to collect the same data, though in some cases the exact questions asked may differ slightly. Detailed information on <a href="https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/methodologies/movingthewealthandassetssurveyontoafinancialyearsbasis" target="_blank" style="background-color: rgb(255, 255, 255);">Moving the Wealth and Assets Survey onto a financial years’ basis</a> was published on the ONS website in July 2019. Further information and documentation may be found on the ONS <a href="https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/methodologies/wealthandassetssurveywas" title="Wealth and Assets Survey" style="background-color: rgb(255, 255, 255);">Wealth and Assets Survey</a> webpage. Users are advised to the check the page for updates before commencing analysis. Users should note that issues with linking have been reported and the WAS team are currently investigating. Secure Access WAS data The Secure Access version of the WAS includes additional, detailed geographical variables not included in the End User Licence (EUL) version (SN 7215). These include:<ul><li>Wards</li><li>Parliamentary Constituency Areas for Wave 1 only</li><li>Census Output Areas</li><li>Lower Layer Super Output Areas</li><li>Local Authorities </li><li>Local Education Authorities</li></ul>Prospective users of the Secure Access version of the WAS will need to fulfil additional requirements, including completion of face-to-face training, and agreement to the Secure Access User Agreement and Licence Compliance Policy, in order to obtain permission to use that version (see 'Access' section below). Users are therefore strongly encouraged to download the EUL version (SN 7215) to see if it contains sufficient detail for their needs, before considering making an application for the Secure Access version. Latest Edition Information For the tenth edition (September 2025), the Round 8 person and household data have been added to the study. Main Topics: The WAS questionnaire was divided into two parts with all adults aged 16 years and over (excluding those aged 16 to 18 currently in full-time education) being interviewed in each responding household. Household schedule: This was completed by one person in the household (usually the head of household or their partner) and predominantly collected household level information such as the number, demographics and relationship of individuals to each other, as well as information about the ownership, value and mortgages on the residence and other household assets. Individual schedule: This was given to each adult in the household and asked questions about economic status, education and employment, business assets, benefits and tax credits, saving attitudes and behaviour, attitudes to debt, insolvency, major items of expenditure, retirement, attitudes to saving for retirement, pensions, financial assets, non-mortgage debt, investments and other income. July 2006 - March 202230 June 200631 March 2022 Great Britain IndividualsFamilies/householdsNational All adults aged 16 years and over (excluding those aged 16-18 currently in full-time education) who consented were interviewed in each responding private household in Great Britain. Communal establishments were excluded from the sample. Numeric Longitudinal/panel/cohort Multi-stage stratified random sample Face-to-face interview The Data Collection is available to users registered with the UK Data Service.Commercial use is not permitted.Use of the data requires approval from the data owner or their nominee. Registered users must apply for access via a DEA Research Project Application.Registered users must complete the Safe Researcher Training course and gain <a href="https://uksa.statisticsauthority.gov.uk/digitaleconomyact-research-statistics/better-useofdata-for-research-information-for-researchers/" target="_blank">DEA Accredited Researcher Status</a>.Registered users must be based in the UK when accessing data.The Data Collection must be accessed via a secure connection method in a safe environment approved by the UK Data Service. See <restrctn> https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/debt/methodologies/wealthandassetssurveyqmi Changwony, F., Campbell, K. and Tabner, I. (2021) 'Savings goals and wealth allocation in household financial portfolios', Journal of Banking and Finance, 124, 106028, https://doi.org/10.1016/j.jbankfin.2020.106028. https://doi.org/10.1016/j.jbankfin.2020.106028 Paya, I. and Wang, P. (2016) 'Wealth fluctuations and investment in risky assets: The UK micro evidence on households asset allocation', Journal of Empirical Finance, 38, Part A, pp.221-235, https://doi.org/10.1016/j.jempfin.2016.07.003. https://doi.org/10.1016/j.jempfin.2016.07.003 https://oai.ukdataservice.ac.uk:8443/oai/provider 6709 2025-09-03T06:35:24Z ddi:codebook:2_5