The average age of withdrawal from the labour market for women has risen from 60.7 years in 1984, when data first became available, to 62.4 years in April-June 2009. There has been a particularly sharp rise over the past decade, which has continued in the recession. For men, the average age of withdrawal peaked at 64.5 years in April-June 2008 and was unchanged in April-June 2009.
An analysis of the average age of withdrawal from the labour market as people retire will be particularly important over the next few decades as State Pension Age (SPA) in the UK increases. As a result of the Pensions Acts 1995 and 2007, SPA is due to rise from 60 to 65 for women between 2010 and 2020 and from 65 to 68 for both women and men between 2024 and 2046.
Reduced employment in the 2008-09 recession has affected women less than men and older people less than younger people. The employment rate for men of SPA and over has remained above 10 per cent in 2008-09. The employment rate for women of SPA and over has continued to rise, reaching 13.1 per cent in July-September 2009.
The transition from work to retirement involves a move towards part-time employment. The majority of those who are employed after SPA work part time. In April-June 2009, 5.9 per cent of men and 9.1 per cent of women were in part-time employment, while 4.2 per cent of men and 3.9 per cent of women were in full-time employment.
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