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DDI2.5 XML CODEBOOK RECORD FOR STUDY NUMBER 7215 Wealth and Assets Survey, Waves 1-5 and Rounds 5-8, 2006-2022 721510.5255/UKDA-SN-7215-20 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. HM TreasuryHM Revenue and CustomsScottish GovernmentDepartment for Work and Pensions UK Data Service 13 March 2013 COVID-19WEALTHINCOMEFAMILY INCOMEHOUSEHOLDSHOUSEHOLDERSFAMILY MEMBERSCOHABITINGRESIDENTIAL BUILDINGSHOUSING TENUREHOME OWNERSHIPSOCIAL HOUSINGRENTED ACCOMMODATIONLANDLORDSTIED HOUSINGFURNISHED ACCOMMODATIONUNFURNISHED ACCOMMODATIONHOME BUYINGHOUSING AGEHOUSING ECONOMICSHOUSING FINANCEMORTGAGESLOANSRENTSINSURANCE CLAIMSMOTOR VEHICLESCARSMOTORCYCLESHIRE PURCHASEAIRCRAFTBOATSBICYCLESCARE OF DEPENDANTSAGESTATUS IN EMPLOYMENTDEBTSCREDIT CARD USEBANK ACCOUNTSSAVINGSINVESTMENTBONDSSHARESPENSIONSPRIVATE PENSIONSASSETSSTUDENT LOANSLAND OWNERSHIPPERSONAL DEBT REPAYMENTEMPLOYMENT PROGRAMMESPLACE OF BIRTHETHNIC GROUPSRELIGIOUS AFFILIATIONRELIGIOUS ATTENDANCEECONOMIC ACTIVITYUNWAGED WORKERSJOB HUNTINGUNEMPLOYEDEMPLOYMENTEMPLOYEESSELF-EMPLOYEDSUPERVISORY STATUSWORKPLACEFULL-TIME EMPLOYMENTPART-TIME EMPLOYMENTEMPLOYMENT HISTORYEDUCATIONAL BACKGROUNDQUALIFICATIONSOCCUPATIONAL QUALIFICATIONSEDUCATIONAL COURSESMATHEMATICSPARTNERSHIPS (BUSINESS)PROFITSBUSINESSESCOMMERCIAL BUILDINGSTOP MANAGEMENTSELLINGWAGESSICK PAYMATERNITY PAYTAX RELIEFFRINGE BENEFITSSUBSIDIARY EMPLOYMENTSOCIAL SECURITY BENEFITSFAMILY BENEFITSCARERS' BENEFITSSTATE RETIREMENT PENSIONSSICKNESS AND DISABILITY BENEFITSPENSION BENEFITSPERSONAL FINANCE MANAGEMENTHOUSEHOLD BUDGETSCOSTSCOST OF LIVINGCHILD SUPPORT PAYMENTSEDUCATIONAL FEESRETIREMENT AGEEARLY RETIREMENTOLD AGE BENEFITSPENSION CONTRIBUTIONSOCCUPATIONAL PENSIONSPRIVATE PERSONAL PENSIONSSECOND HOMESMAIL ORDER SERVICESGIFTSUNEARNED INCOMEFINANCIAL ADVICEFINANCIAL SERVICESINHERITANCEFINANCIAL COMPENSATIONREDUNDANCY PAYTRUSTSHEALTHILL HEALTHPHYSICAL MOBILITYDISABILITIESINTELLECTUAL IMPAIRMENTINCONTINENCEINFORMAL CARESOCIO-ECONOMIC STATUSSPOUSESINSOLVENCIESOCCUPATIONSHEALTH STATUS Labour and employmentIncome, property and investment/saving 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. Data are revised on a wave by wave basis, as a result of backwards imputation from the current wave's data. 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">Moving the Wealth and Assets Survey onto a financial years’ basis</a> was published on the ONS website in July 2019. A Secure Access version of the WAS, subject to more stringent access conditions, is available under SN 6709; it contains more detailed geographic variables than the EUL version. Users are advised to download the EUL version first (SN 7215) to see if it is suitable for their needs, before considering making an application for the Secure Access version.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"> Wealth and Assets Survey</a> webpage. Users are advised to the check the page for updates before commencing analysis.Occupation data for 2021 and 2022 data files The ONS have identified an issue with the collection of some occupational data in 2021 and 2022 data files in a number of their surveys. While they estimate any impacts will be small overall, this will affect the accuracy of the breakdowns of some detailed (four-digit Standard Occupational Classification (SOC)) occupations, and data derived from them. None of ONS' headline statistics, other than those directly sourced from occupational data, are affected and you can continue to rely on their accuracy. For further information on this issue, please see: <a href="https://www.ons.gov.uk/news/statementsandletters/occupationaldatainonssurveys">https://www.ons.gov.uk/news/statementsandletters/occupationaldatainonssurveys</a>.The data dictionary for round 8 person file is not available.Latest edition informationFor the 20th edition (May 2025), the Round 8 data files were updated to include variables personr7, nounitsr8 and porage1tar8, and derived binary versions of multi-choice questions, their collected equivalents and imputed binary versions of these variables. Also, variables that were only collected for part of the round have been removed. Additional documentation for Round 8 was also added to the study, including an updated variable list and derived variable specifications.Main Topics: The WAS questionnaire is 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 is completed by one person in the household (usually the head of household or their partner) and predominantly collects 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 is given to each adult in the household and asks 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 202229 June 200631 March 2022 Great Britain IndividualsNational 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. Communal establishments were excluded from the sample. Numeric Longitudinal/panel/cohort Multi-stage stratified random sample Telephone interviewFace-to-face interview The Data Collection is available to UK Data Service registered users subject to the <a href="https://ukdataservice.ac.uk/app/uploads/cd137-enduserlicence.pdf" target="_blank">End User Licence Agreement</a>.Commercial use of the data requires approval from the data owner or their nominee. The UK Data Service will contact you. See <restrctn> https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/debt/methodologies/wealthandassetssurveyqmi https://www.ukdataservice.ac.uk/bounce?type=case-study&id=129 https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/methodologies/wealthandassetssurveywas https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/methodologies/movingthewealthandassetssurveyontoafinancialyearsbasis Suh, E. (2021). 'Can't save or won't save: financial resilience and discretionary retirement saving among British adults in their thirties and forties', Ageing and Society, 1-28. doi:10.1017/S0144686X21000337 https://www.doi.org/10.1017/S0144686X21000337 Suh, E. (2020) 'Young British adults’ homeownership circumstances and the role of international transfers', Longitudinal and Life Course Studies, 11(3), 383-407(25). doi:10.1332/175795920X15846933259695 https://doi.org/10.1332/175795920X15846933259695 Felici, M. and Fuerst, F. (2023) 'The heterogeneous relationship of owner-occupied and investment property with household portfolio choice', Journal of Housing Economics, 62, 101964. doi:10.1016/j.jhe.2023.101964 https://doi.org/10.1016/j.jhe.2023.101964 IMF (2023) 'World Economic Outlook 2022: War Sets Back the Global Recovery', (Chapter 2, Fig. 2.4) https://www.imf.org/en/Publications/WEO/Issues/2022/04/19/world-economic-outlook-april-2022 Adetutu, M. O., Odusanya, K. A., Rasciute, S. and Stathopoulou, E. (2024) 'Pollution risk and life insurance decisions: microgeographic evidence from the United Kingdom', Risk Analysis, 1–24. https://doi.org/10.1111/risa.14279 https://doi.org/10.1111/risa.14279 Mann, E.C. (2023) 'Wealth matters: a UK policy perspective', Ph.D. thesis, London School of Economics and Political Science http://etheses.lse.ac.uk/4703/ Loutzenhiser, G. and Mann, E. (2021) 'Liquidity issues: solutions for the asset rich, cash poor', Fiscal Studies, 42 (3-4). pp.651-675. doi:10.1111/1475-5890.12281 https://doi.org/10.1111/1475-5890.12281 Loutzenhiser, G. and Mann, E. (2020) 'Liquidity issues: solutions for the asset-rich-cash-poor. Wealth Tax Commission, Evidence Paper 10 https://www.wealthandpolicy.com/wp/EP10_Liquidity.pdf Household total wealth in Great Britain, April 2018 to March 2020 https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/totalwealthingreatbritain/april2018tomarch2020 Distribution of individual total wealth by characteristic in Great Britain, April 2018 to March 2020 https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/distributionofindividualtotalwealthbycharacteristicingreatbritain/april2018tomarch2020 https://oai.ukdataservice.ac.uk:8443/oai/provider 7215 2025-05-30T08:28:09Z ddi:codebook:2_5