Around 200,000 people will be involved in the survey and asked to rate their life satisfaction on a scale of 0 - 10. The aim is to get a better picture of what's really going on with the British public in terms of what they think and feel about their lives, as opposed to just understanding what's happening in the country in terms of economics.
So from this April, the Integrated Household Survey and monthly Opinions Surveys will ask the following:
Overall, how satisfied are you with your life nowadays?
How happy did you feel yesterday?
How anxious did you feel yesterday?
To what extent do you feel the things you do in your life are worthwhile?
So what would your answers be if you were one of the 200,000 asked? Do you think it's a good idea to have a measurement of the nation's happiness and wellbeing - even if the results are less than encouraging - or does the whole happiness survey thing make your blood boil?
Whatever you think, you don't have to wait to find out if you'll be among those answering the questions. You can get involved right now in the ONS's online Measuring National Wellbeing debate, where you can air your opinions on what things in life are most important to you.
Or if you prefer, just take a peek at what other people have been saying. It makes fascinating reading.
Better still, tell us how happy you feel right now.