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Abstract

In recent decades, advanced economies have been steadily transitioning into an era marked by population ageing. This demographic shift has sparked an ongoing debate among policymakers and researchers about its broader economic consequences. Central to this discussion are questions about how increased longevity influences retirement decisions, labour market participation, savings, and inequality across various skill groups. To mitigate some of the fiscal pressures posed by an ageing population, many advanced economies have implemented pension reforms. A common feature of these reforms has been the gradual increase in the State Pension Age (SPA). While such reforms are critical to maintaining the financial viability of the pension system, they have profound implications for labour market behaviour, savings patterns, and income disparities, particularly for older individuals who must adjust their financial planning in response to delayed access to pension benefits. Previous studies have primarily examined the effects of population ageing on labour market participation and savings, as well as the impact of pension reforms on labour market activity. However, the relationship between population ageing and inequality has received less attention. Additionally, the implications of pension reforms on both inequality and savings remain largely unexplored. This dissertation aims to address this significant gap by investigating these crucial dynamics. The first chapter provides a theoretical framework to understand how population ageing affects inequality through changes in labour force participation, savings, and retirement decisions. The subsequent chapters focus on the empirical analysis of UK pension reforms, particularly those that raised the state pension age for women. Specifically, the second chapter examines the impacts of the UK’s pension reforms on women’s labour market participation and income inequality. Lastly, the third chapter adopts a novel approach by examining how women adjust their economic behaviour in anticipation of these reforms.

Publication Type:	Thesis (Doctoral)
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions H Social Sciences > HQ The family. Marriage. Woman
Departments:	School of Policy & Global Affairs > Department of Economics School of Policy & Global Affairs > School of Policy & Global Affairs Doctoral Theses Doctoral Theses

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