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Can't wait to get my pension: the effect of raising the female early retirement age on income, poverty and deprivation

Year: 2018

Type: article

Abstract: We estimate the impact of increasing the female early retirement age (ERA) on household living standards. Examining the increase in the female ERA from 60 to 63 in the UK, we find increased earnings only partially offset lost public pension income, leaving affected women's household incomes £32 per week lower on average. The proportional effect was substantially larger for women in lower income households. This increased the income poverty rate among affected women by 6.4 percentage points. We find no evidence of an increased inability to afford important material items, potentially suggesting that material deprivation has been avoided through smoothing of consumption.

Source: Journal of Pensions Economics and Finance

DOI: 10.1017/s1474747218000057

Authors: JONATHAN CRIBB, CARL EMMERSON

Institutions: Institute for Fiscal Studies, University College London

Language: English

Topic: Retirement, Disability, and Employment

Subfield: Demography

Field: Social Sciences

Domain: Social Sciences

SDGs: No poverty, Reduced inequalities, Good health and well-being, Decent work and economic growth

Open Access status: hybrid

Estimated APC paid: $3,550