This publication is categorised as a CSO Frontier Series Output. Particular care must be taken when interpreting the statistics in this release as it may use new methods which are under development and/or data sources which may be incomplete, for example new administrative data sources.
This chapter presents distributional information on household saving consistent with Institutional Sector Accounts.
Figure 3.1 shows the contribution of each quintile to the household savings rate. Only the top 40% of the highest earning households consistently have positive savings over the period 2010 to 2023.
| X-axis label | Quintile 1 | Quintile 2 | Quintile 3 | Quintile 4 | Quintile 5 | Savings Rate Total |
|---|---|---|---|---|---|---|
| 2010 | -3.34455860607338 | -1.06095967144816 | -0.513647349977392 | 1.72258910482421 | 16.5064342164431 | 13.3098576937684 |
| 2011 | -4.25256078880719 | -1.74894137966975 | -0.753146507138374 | 2.27084008422992 | 17.0630856701383 | 12.5792770787529 |
| 2012 | -4.09365675134913 | -1.91868240489852 | 0.260516269166679 | 2.03492931502669 | 18.1602464343328 | 14.4433528622785 |
| 2013 | -4.70079653042136 | -2.60125452195865 | -1.65544700037541 | 2.30061402286117 | 18.939790887955 | 12.2829068580608 |
| 2014 | -5.36784402191057 | -3.52300129234158 | -1.44137228316306 | 2.46882575036194 | 18.8387690552001 | 10.9753772081469 |
| 2015 | -2.8775705686619 | -1.35603342659191 | -0.442939324509734 | 0.979888517362099 | 15.7898907052107 | 12.0932359028092 |
| 2016 | -4.74061386126427 | -1.40279679288435 | -0.704313452231683 | 2.09693841583137 | 16.6451614951721 | 11.8943758046232 |
| 2017 | -4.36345663038238 | -1.6986675555616 | 0.285141356691154 | 3.82855491069805 | 16.2492370398307 | 14.3008091212759 |
| 2018 | -5.58385137815279 | -1.98619575013862 | 0.421037082828072 | 4.01263253277927 | 15.8344520583863 | 12.6980745457022 |
| 2019 | -4.12706904678085 | -1.63250390475228 | 0.596779473868919 | 3.02919132910772 | 15.9687729121116 | 13.8351707635551 |
| 2020 | -2.8360323211584 | 0.17167182830509 | 2.55432016980486 | 6.43049009894044 | 20.3476575393332 | 26.6681073152252 |
| 2021 | -1.99169501624353 | 0.203046438745189 | 2.36238190484745 | 4.71983176702459 | 17.4234387711528 | 22.7170038655265 |
| 2022 | -2.29559126365556 | -0.730242381785736 | -0.039972905877889 | 2.85810163474446 | 15.3363593662086 | 15.1286544496339 |
| 2023 | -3.98444084130045 | -1.71172993656236 | 0.185969397541706 | 2.52674539124027 | 16.3257845472782 | 13.3423285581974 |
Figure 3.2 shows the household savings rate by quintile. Each quintile saw an increased savings rate during the COVID-19 pandemic. By 2023, savings rates had returned to pre-pandemic levels.
| Quintile 1 | Quintile 2 | Quintile 3 | Quintile 4 | Quintile 5 | |
| 2010 | -42.7778155370709 | -9.52337922210221 | -3.07810419495752 | 7.5234740199808 | 39.8151686607889 |
| 2011 | -55.597738215876 | -14.5996392138543 | -4.65087036852776 | 9.91712028453185 | 41.33499102168 |
| 2012 | -55.8696350509864 | -16.3320201522329 | 1.60112918943995 | 8.87976762644102 | 43.5105112072211 |
| 2013 | -62.2599920036602 | -23.3215261263559 | -10.6077057042254 | 10.1626103155329 | 43.993078629321 |
| 2014 | -72.0711372204274 | -31.0209575899116 | -8.86347509612746 | 11.0796698018029 | 44.1698314857631 |
| 2015 | -35.7474203998276 | -11.7993063376211 | -2.66059591636261 | 4.30155531599554 | 38.4839608124214 |
| 2016 | -61.5946571342952 | -12.5888365816025 | -4.22546017829094 | 9.20524013242554 | 39.9047884394732 |
| 2017 | -53.4626509021955 | -14.5673829884352 | 1.70246790392634 | 16.1810065316401 | 40.8600337356873 |
| 2018 | -69.9488351629294 | -17.0823075392236 | 2.46103327066014 | 17.1517913315727 | 39.6982265516964 |
| 2019 | -50.2785682240032 | -13.6097836646237 | 3.60317324586361 | 12.552463357004 | 40.8391139160501 |
| 2020 | -34.3831970685317 | 1.4255779224536 | 15.709901943189 | 27.2009388555604 | 51.1126485788045 |
| 2021 | -23.8140077347169 | 1.56433405264714 | 13.7520601591898 | 20.3583093382134 | 45.4985125481311 |
| 2022 | -26.9768736004372 | -5.59746963481968 | -0.226386579035736 | 12.4228314597953 | 40.59298201287 |
| 2023 | -47.8037598551382 | -13.1628414288233 | 1.10291525904598 | 11.3503247800565 | 41.2917023857795 |
Figure 3.3 shows the contribution to the household savings rate by household type.
| X-axis label | Households with 3 or more adults | 1 adult aged 65 years and over, no children under 18 years living at home | 1 adult aged less than 65 years, no children under 18 years living at home | 1 adult, with children under 18 years living at home | 2 adults, at least one aged 65 years or older, no children under 18 years living at home | 2 adults, both aged less than 65 years, no children under 18 years living at home | 2 adults, with at least 3 children under 18 years living at home | 2 adults, with less than 3 children under 18 years living at home | Savings Rate Total |
|---|---|---|---|---|---|---|---|---|---|
| 2010 | 2.04358155280989 | 0.771347348446062 | 0.844006960065413 | -0.464001623891623 | 1.78597883836146 | 3.49049724944413 | 1.03600948640203 | 3.80243788213101 | 13.3098576937684 |
| 2011 | 2.17385625859984 | -0.12491622819591 | 1.09649241223667 | -0.417381160286066 | 1.37933712060584 | 2.92748103820868 | 1.54075046625564 | 4.00365717132819 | 12.5792770787529 |
| 2012 | 2.11054351600261 | -0.280068494193547 | 1.29500793122776 | -0.443788513741881 | 1.20850200615976 | 2.86333737409163 | 2.11592464815515 | 5.57389439457702 | 14.4433528622785 |
| 2013 | 1.87440100696099 | -0.995581761140818 | 1.17025761578523 | -0.508171760589222 | 0.955170528576678 | 3.03529624204251 | 2.59069703696093 | 4.16083794946448 | 12.2829068580608 |
| 2014 | 1.98252591909655 | -1.14423032373665 | 0.606843898548852 | -0.495069974212403 | 0.28066027770722 | 2.64916775531204 | 2.49660604536002 | 4.59887361007128 | 10.9753772081469 |
| 2015 | 2.42288836907314 | 0.319257306646603 | 1.22110887751136 | 0.16123435427791 | 0.482346985459087 | 1.83091777779391 | 1.69538025060671 | 3.96010198144054 | 12.0932359028092 |
| 2016 | 1.17910043339636 | 0.812799046392792 | -0.152129544381412 | -0.40283430207992 | 0.950836253159952 | 1.75441075588649 | 1.35096114018078 | 6.40123202206817 | 11.8943758046232 |
| 2017 | 3.21209805525362 | 0.0719919806714193 | 0.276725502952936 | -0.462983020281253 | 1.40254268026173 | 2.80878765957145 | 1.77770201103302 | 5.21394425181301 | 14.3008091212759 |
| 2018 | 2.13104027554913 | 0.0997844079892755 | -0.110013620110424 | -0.574053118199916 | 1.68419149455231 | 3.03948950786859 | 1.90820734109649 | 4.51942825695676 | 12.6980745457022 |
| 2019 | 2.83123483682076 | 0.216025558731128 | 0.0756789924726434 | 0.189360539926351 | 1.75019518682845 | 1.88412760758407 | 2.20796078460178 | 4.6805872565899 | 13.8351707635551 |
| 2020 | 5.74954467105601 | 1.16706244532833 | 1.24778121520522 | 0.0899376456055428 | 4.4267027599441 | 3.38874502307091 | 3.07155544172454 | 7.52677811329055 | 26.6681073152252 |
| 2021 | 6.94271951218862 | 0.839203350115456 | 0.536533335503669 | -0.00101341930215338 | 2.82142936771405 | 2.75589650136907 | 2.47942896791427 | 6.34280625002348 | 22.7170038655265 |
| 2022 | 4.89315033774492 | 1.30017929143622 | 1.27002223682197 | -0.221488691437633 | 2.53989388898995 | 0.982077849068904 | 1.8202886659672 | 2.54453087104237 | 15.1286544496339 |
| 2023 | 6.97437777040944 | 0.576721635643135 | 0.352235889226614 | -0.519572059204802 | 1.90893756081448 | 1.43804952365545 | 0.759561822205439 | 1.85201641544761 | 13.3423285581974 |
Figure 3.4 shows the contribution to the household savings rate by tenure status.
| Owned outright | Owned with mortgage | Rented or Rent Free | Savings Rate Total | |
| 2011 | 7.08400613109194 | 5.8007672453707 | -0.305496297709789 | 12.5792770787529 |
| 2012 | 7.87338885970604 | 6.02345999165023 | 0.546504010922214 | 14.4433528622785 |
| 2013 | 5.37409684985775 | 6.49956767726268 | 0.409242330940385 | 12.2829068580608 |
| 2014 | 5.0365352063617 | 6.15402469399541 | -0.215182692210234 | 10.9753772081469 |
| 2015 | 5.09508478189418 | 6.16914971336687 | 0.829001407548175 | 12.0932359028092 |
| 2016 | 7.32001926892884 | 7.52949525891825 | -2.9551387232239 | 11.8943758046232 |
| 2017 | 7.75946949186262 | 6.47344359419087 | 0.067896035222403 | 14.3008091212759 |
| 2018 | 7.1988313484706 | 6.25942440240546 | -0.760181205173833 | 12.6980745457022 |
| 2019 | 8.28570895246885 | 4.74775703464117 | 0.801704776445058 | 13.8351707635551 |
| 2020 | 12.8404190214774 | 11.6973601837905 | 2.13032810995731 | 26.6681073152252 |
| 2021 | 11.3487663544902 | 10.6737095410791 | 0.6945279699572 | 22.7170038655265 |
| 2022 | 10.626542965276 | 5.19866670963561 | -0.696555225277743 | 15.1286544496339 |
| 2023 | 10.5505770328801 | 4.06639276568072 | -1.2746412403634 | 13.3423285581974 |
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