Using a Political Economy and Life Course Approach to Understand Gendered Pension Provision in the UK

The future sustainability of pensions has gained considerable international attention over recent years. These concerns have been fuelled by increasing longevity and rising pension deficits. In addition there has been further awareness of the extent of female pensioner poverty. In order to explore this situation a suitable analytical framework is required. As pensions received in retirement are dependent on earlier events in individuals’ lives, most notably their employment history, this paper explores the need for a life course approach to examine the gendered nature of pensions in the UK. Initially the life course approach, a key mode of analysis in political economy theory, is defined. It is then used to examine the notion of the changing ‘institution’ of retirement and its subsequent de‐standardisation. Then, linked to the political economy approach, it is utilised to introduce ways in which employment experiences of men and women impact upon inequalities in retirement. Finally, the article concludes that by employing such an approach to understanding pensions it enables a better appreciation of savings behaviour and opportunities.