Younger generations to inherit 'more than predecessors', research suggests

09 Jan 2017

Younger generations are set to inherit more money than previous generations, according to research published by the Institute for Fiscal Studies (IFS).

The data revealed that between 2002/03 and 2012/13, the wealth of the older generation increased by 45%. The think tank suggested that this could have been due to an increase in home ownership and rising house prices.

As a result, more money than ever before may be passed down to younger generations.

However, the IFS warned that the amounts that young people receive will be 'unequal' due to the fact that the richest half of elderly households currently holds 90% of the wealth.

Commenting on the matter, Paul Johnson, Director of the IFS, said: 'About half of people will inherit little or nothing, whereas the other half are going to inherit quite a lot.

'And that will matter increasingly as younger people are not able to get on the housing market themselves, and not accumulating occupational pensions.'

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