The average age at which men over 50 withdrew from the labour force reached 64.6 in April-June 2008, the highest level since data first became available in 1984. The average age of labour market withdrawal for women over 50 rose from 60.7 in 1984, to 61.9 in April-June 2008, although the rate of increase has slowed in recent years.
An analysis of the average age of labour market withdrawal will be particularly important over the next few decades as State Pension Age (SPA) in the UK gradually increases from 60 to 65 for women between 2010 and 2020, and from 65 to 68 for both women and men between 2024 and 2046.
Before SPA, a higher proportion of men than of women are in employment, although the gap between male and female employment rates narrowed to 8.4 per cent in the three months to July 2008. Employment patterns change as people reach SPA. In April-June 2008, a higher proportion of women than men over SPA were in employment:12.3 per cent of women aged 60 and over, compared with 10.7 per cent of men aged 65 and over.
The transition from work to retirement involves a move towards part-time employment. The majority of men and women employed after SPA work part-time. In April-June 2008, 6.8 per cent of men and 8.6 per cent of women of SPA and over were in part-time employment.
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