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corporate_wealth was built as (WAS total private pension wealth less current-employment DB) + employee shares + UK shares + investment ISAs + unit/investment trusts, so 84.7% of its WAS round 8 mass (GBP 3,659bn of 4,318bn) was pension wealth, which every means test disregards (UC Regs 2013 Sch 10 para 10 and the legacy equivalents). policyengine-uk counts corporate_wealth as capital, so imputed pensions failed claimants on the GBP 16,000 limit. The imputation now draws private_pension_wealth in the slot the old column held, then directly_held_shares (UK + employee shares), unit_and_investment_ trusts and stocks_and_shares_isa, and builds corporate_wealth as their exact sum. These are the parts DWP values differently: quoted shares less 10% for costs of sale (ADM H1665), unit trusts with none (H1674), ISAs at withdrawal value (H1656). cash_isa is exported too. other_residential_property_value took only WAS second homes (DVHseValR8, GBP 254bn) and left buy-to-let (DVBltValR8, GBP 573bn) out of every capital input; it now holds both. The debt secured on each non-main asset class is imputed after its asset for the policyengine-uk inputs that value capital net of encumbrances (reg 49(1)(b)): second homes + buy-to-let, other buildings and UK land, kept only where the household holds the asset. The model metadata records how each derived target is built, so a cached model retrains when a definition changes. Uprating rows for the new columns copy corporate_wealth's per-capita GDP index. Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com>
This was referenced Oct 1, 2026
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Draft while the release-equivalent local builds and measurements finish; the full description, aggregates against the ONS Wealth and Assets Survey tables, and policyengine-uk impacts will replace this text.
What changes.
corporate_wealthstops carrying private pension wealth (84.7% of its WAS round 8 mass, disregarded capital in every means test) and becomes the exact sum ofdirectly_held_shares,unit_and_investment_trustsandstocks_and_shares_isa.private_pension_wealthandcash_isaare exported.other_residential_property_valuegains buy-to-let property, and debt secured on second homes and buy-to-let, other buildings and UK land is imputed for the policyengine-uk inputsother_residential_property_secured_debt,non_residential_property_secured_debtandowned_land_secured_debt(PolicyEngine/policyengine-uk#1969).Refs #452, PolicyEngine/policyengine-uk#1837, PolicyEngine/policyengine-uk#1791, PolicyEngine/policyengine-uk#1969.
axiom: n/a: data change
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