Depressive symptoms have become more common since the mid
2010s among women in their late 50s and early 60s, with
their prevalence rising from around 15% in the mid 2010s to 21%
in 2023–24. The increase has been particularly steep
among the least wealthy third of women, with the share
experiencing these symptoms rising from around 30% in the mid
2010s to 39% in 2023–24.
In contrast, the share of men aged 55–64 experiencing depressive
symptoms has been stable, averaging 11% over this period (and 22%
for the least wealthy third of men).
The differing trends in mental health between poorer and
wealthier women at these ages have parallels in physical
health. Over the longer run (between 2002–03 and
2023–24), the overall prevalence of mobility problems among
people aged 55–64 has fallen for both men (from 32% to 22%) and
women (from 43% to 36%). The poorest third of women, though, have
seen no improvement in mobility issues, with around 55% reporting
at least one mobility problem.
These trends are important both in their own right and because
poor health is an important predictor of labour market inactivity
in the run-up to state pension age. The government has an
ambitious target to increase the employment rate of 16- to
64-year-olds to 80% (from its current rate of 75%). Increasing
employment among those aged 55–64 is likely to be important here,
since employment rates of older working-age people in the UK are
well below those in many other high-income countries.
Poor mental health is likely to act as a significant
headwind to the government's employment target.
These are key findings from new research published today by the
Institute for Fiscal Studies and funded by the IFS Retirement
Saving Consortium. Our new research provides more detail about
these trends:
- Overall health (as measured by an index of physical and
mental conditions that are predictive of work capacity) has
improved modestly on average over the last two decades among men
in their late 50s and early 60s. In contrast, the overall health
of women of the same age is markedly lower than men's, on
average, and has remained broadly stable over time.
- There have been changes in the extent to which men and women
report a significant number of conditions. In 2002–03, 7%
of both men and women aged 55–64 reported six or more health
problems (out of a set of twelve). By 2023–24, almost four times
as many women as men reported six or more health
problems (3% of men and 11% of women).
Bee Boileau, a Research Economist at IFS and an author of
the report, said:
‘Mental health problems are often discussed as a young person's
problem. The rise in mental health problems among women in their
late 50s and early 60s in recent years, particularly among poorer
women, shows that this is not the whole story. Policymakers
looking to increase employment for those in the run-up to state
pension age – a group for whom there is likely to be significant
potential to boost employment rates – should take account of the
headwind from worsening mental health for poor women.'
ENDS
Health, wealth and employment in the run-up to state pension
age is an IFS report by Bee Boileau and Jonathan Cribb.
The authors gratefully acknowledge funding for this work from
the IFS Retirement Saving Consortium 2023-25 and
the Economic and Social Research Council (ESRC).
The IFS Retirement Saving
Consortium was put together to fund specific
research projects into saving and pensions. The consortium is
made up of organisations with an interest in pensions policy.
These are:
- Aegon
- Age UK
- Association of British Insurers
- Association of Consulting Actuaries
- Aviva
- Department for Work and Pensions
- Franklin Templeton
- Institute and Faculty of Actuaries
- The Investment Association
-
Foundation
- Lane, Clark and Peacock
- Money and Pensions Service
- Nucleus
- Pensions UK
- The People's Pension
- Royal London
- Standard Life
