Recovery boosts pensioners: 1m British retirees are millionaires

 
Tim Wallace
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MORE than one in 10 retired households have assets worth more than £1m, according to figures published by Prudential today.

Soaring house and share prices have driven the number of millionaires up by 69 per cent since the financial crisis to more than 1m – in 2006 to 2008, there were just 636,000 such households.

The median value of pension assets has risen to £82,300, from £60,000 in the crash.

And the proportion with a private pension has risen from 73 per cent to 76 per cent.

The average value of property assets is up £10,000 to £210,000.

And 19 per cent of pensioner households now have savings and investments worth more than £100,000, up 15 per cent from 2006 to 2008.

However, there is also a wide gap between those with the most and those with the least – another 1m pensioners have less than £40,000.

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