UK: household gross savings rate 2021

In the United Kingdom, the household gross savings rate dropped to 8.3 percent in the third quarter of 2021, the lowest rate since the start of the COVID-19 pandemic. During the period considered, households saved between four and 23 percent of disposable income. The gross savings rate in Spain has followed similar trends as in the United Kingdom, as both countries had relatively low figures, which increased very significantly after the outbreak of the COVID-19.

Household gross savings as a share of disposable income in the United Kingdom (UK) from 1st quarter 2007 to 3rd quarter 2021

Characteristic	Household gross savings rate
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Release date

February 2022

More information

Region

United Kingdom

Survey time period

Q1 2007 to Q3 2021

Supplementary notes

The source added the following information "Saving can be calculated on a gross or a net basis depending on the definition of household disposable income that is used. Gross disposable income is calculated before the deduction of depreciation (consumption of fixed capital in national accounts terms), while net disposable income is calculated by deducting depreciation from gross disposable income.
The household gross savings rate is calculated as the ratio of household gross savings to household gross disposable income plus the change in pension entitlements. The rates vary considerably across countries because of institutional, demographic, and socio-economic differences. For example, the government provision of old-age pensions or demographic age structure of the population will influence the rate at which populations save.'

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