RT Journal Article
T1 Income growth in the United Kingdom during late career and after retirement: growing inequalities after deindustrialisation, educational expansion and development of the knowledge-based economy
A1 Veira Ramos, Alberto
A1 Schmelzer, Paul
AB This article shows how late-life incomes from work and pensions evolved in the UnitedKingdom between 1991 and 2007, the year the Great Recession began. Our main contributioncomes from focusing on changes across cohorts in different educational groupswhile also considering the gender divide. Our statistical analyses based on the BritishHousehold Panel Survey (BHPS) suggest that deindustrialisation, the expansion of jobsin the knowledge economy and pension reforms affected senior workers’ incomes beforeand after retirement. Highly qualified senior male workers have profited from increasingincome across the cohorts more than any other social group. Such a trend is not observedamong highly qualified female workers. Male and female low-qualified senior workers donot show major income loses, but have not benefited to the same extent as highly educatedmale workers. As a result, pension income inequalities between highly qualified men andthe rest have increased. The increasing pensions gap between educational groups can betraced back to the improving situation on the labour market for highly qualified maleworkers, and to reforms benefiting private pension schemes, where the highly qualifiedare overrepresented. Thus, the shift in pension provisions towards private pensionschemes is clearly disadvantageous for low-qualified male workers and for women ofall educational levels, and contributes to the increase of social inequalities.
PB Cambridge University Press
SN 0144-686X
YR 2023
FD 2023-02-01
LK https://hdl.handle.net/10016/38417
UL https://hdl.handle.net/10016/38417
LA eng
DS e-Archivo
RD 17 jul. 2024