Can't Wait to Get My Pension!

Author: 

Institute for Fiscal Studies and University College London

Publication date: 

15th Apr 2018

A new report from the Institute for Fiscal Studies and University College London explores the effect of raising the female early retirement age on income, poverty and deprivation.

The report estimates 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, they 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 is substantially larger for women in lower income households. This increases the income poverty rate among affected women by 6.4 percentage points. They find no evidence of an increased inability to afford important material items, potentially suggesting that material deprivation has been avoided through smoothing of consumption.
 

Subject: 

Theme(s):