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The dynamics of incomes and occupational pensions after retirement


  • Paul Johnson

    (Institute for Fiscal Studies)

  • Gary Stears
  • Steven Webb


This paper uses two waves of the UK Retirement Survey to look at how incomes change during retirement. We concentrate on men aged 65-69 and women aged 60-69 in 1988-89 and look at how their incomes change over the following five years. Overall, we find a considerable degree of stability in real incomes. We use the panel data to look at the incomes of widows before and after they are widowed and find that, for this group of relatively young widows, their low incomes are in large part determined by the fact that it tends to be the relatively poorer husbands who die among this age-group. Finally, we consider the most important component of private income — occupational pensions — separately. We find a strong relationship between pension level and the probability of indexation — pensions that start low are less likely than higher pensions to keep up with inflation.

Suggested Citation

  • Paul Johnson & Gary Stears & Steven Webb, 1998. "The dynamics of incomes and occupational pensions after retirement," Fiscal Studies, Institute for Fiscal Studies, vol. 19(2), pages 197-215, May.
  • Handle: RePEc:ifs:fistud:v:19:y:1998:i:2:p:197-215

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    References listed on IDEAS

    1. Hurd, Michael D, 1990. "Research on the Elderly: Economic Status, Retirement, and Consumption and Saving," Journal of Economic Literature, American Economic Association, vol. 28(2), pages 565-637, June.
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    Cited by:

    1. Whitehouse, Edward, 2000. "How Poor are the Old? A Survey of Evidence from 44 Countries," MPRA Paper 14177, University Library of Munich, Germany.
    2. Bardasi, Elena & Jenkins, Stephen P. & Rigg, John A., 2000. "Retirement and the economic well-being of the elderly: a British perspective," ISER Working Paper Series 2000-33, Institute for Social and Economic Research.
    3. Disney, Richard & Whitehouse, Edward, 2001. "Cross-country comparisons of pensioners’ incomes," MPRA Paper 16345, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions


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