Education and its effects on income and mortality of older men
We explore the effects of income and, additionally, education on the income, self-reported health and survival of men aged sixty-five and over in Great Britain . By so doing, we identify benefits of education which are omitted in the conventional analysis with its focus on labour income excluding employers’ pension contributions. We find that income at age sixty-five is significantly influenced by educational attainment and has a significant effect on survival. Even after controlling for circumstances at age sixty-five or when first observed, we identify benefits discounted to age sixty-five of £115,000 for men with higher education qualifications as compared to those with minimal qualifications.