Pensions and the Extending Working Lives Agenda in the UK: The Impact on Women

Abstract

Extending working lives (EWLs) has been a key policy response to the challenges presented by an ageing population in the United Kingdom (UK). This includes the use of pension policies to encourage working longer. However, opportunities and experiences of EWLs are not equal. While much has been written about EWLs more broadly, limited attention has been paid to connecting those EWLs policies associated with pensions and their potentially unequal impact on women. This article aims to address this gap, taking a feminist political-economy perspective to explore the structural constraints that shape EWLs and pensions. Initially it briefly introduces the EWLs agenda, before focussing on pension developments and their implications for EWLs, considering the gendered nature of these policies. Finally, it touches upon potential policy measures to mitigate the impact of these developments on women. It demonstrates how women’s existing labour market and pension disadvantages have been largely overlooked in the development of EWLs policy, perpetuating or expanded many women’s financial inequalities in later life. It highlights the need for a greater focus on gendered pension differences in developing EWLs policy to ensure women’s circumstances are not adversely impacted on.