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About: http://data.cimple.eu/claim-review/48a8d91dc06814376a47b02bd7db225ef2fe5809cc366f9b23a83be2 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:ClaimReview, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:ClaimReview
http://data.cimple...lizedReviewRating	not verifiable
schema:url	http://fullfact.org/economy/millionaire-pensioners/
schema:text	What was claimed One in five over-65s in the UK is classified as a millionaire Our verdict One in five households in Great Britain, headed by an over-65, has a total wealth of over a million pounds. One in five over-65s in the UK is classified as a millionaire One in five households in Great Britain, headed by an over-65, has a total wealth of over a million pounds. Readers have asked us to check a surprising figure in the Sunday Times Style supplement, that one in five over-65s in the UK is classified as a millionaire according to the Office for National Statistics (ONS). This claim has been going around since the data was first published in 2019. The truth is a bit more complex, and depends on what you count as a millionaire. Data the ONS collected between 2016 and 2018 shows that one in five households (22%) in Great Britain, where the main householder (the person responsible for household finances) is over 65, have a household wealth of over a million pounds. The data also shows that one in four people aged over 65 (25%) lived in a household with a total wealth of over a million pounds. So a household with two 70-year-olds and a combined wealth of a million pounds would fall into these millionaire categories, but whether you’d class both as millionaires is arguably a matter of opinion, and depends on things such as whether they own the assets jointly or solely. As the data is a bit old by now, you might expect more over 65s to live in millionaire households now than did a few years ago, given the proportion of households with wealth over a million pounds has increased over time. And while the Sunday Times’s article brings up the statistic in the context of talking about the disposable income of the baby boomers, these figures aren’t about how much money people have in the bank. The ONS’s definition doesn’t just include disposable financial wealth, but other forms of wealth such as property value and pension pots. Full Fact fights for good, reliable information in the media, online, and in politics.
schema:mentions	The Sunday Times Baby boomers Disposable and discretionary income Disposable product Office for National Statistics Great Britain Millionaire Full Fact
schema:reviewRating	One in five households in Great Britain, headed by an over-65, has a total wealth of over a million pounds.
schema:author	full-fact
schema:datePublished	2021-07-14 (xsd:date)
schema:inLanguage	English
schema:itemReviewed	http://data.cimple.eu/claim/67c801f00816429ff801ab94cd74c7fb83db2b2ddba4b1f13f53aa35

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