Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/254257 
Year of Publication: 
2022
Series/Report no.: 
IFS Working paper No. W22/07
Publisher: 
Institute for Fiscal Studies (IFS), London
Abstract: 
We study the effect of an increase in the UK state pension age from 65 to 66, a high level internationally, on labour market activity. Despite there being limited financial incentives to retire at the state pension age, we find large effects: the employment rate of 65-year-olds increased by 7.4 percentage points for men and 8.5 percentage points for women due to the reform. The employment response is driven disproportionately by full-time workers and self-employed men, and is larger for those with lower levels of education and those living in the most deprived areas of the country.
Subjects: 
Early retirement age
labour supply
policy reform
retirement
JEL: 
H55
J21
J26
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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