Tom Karmel and Davinia Wood examine the influence of education and training on the participation of older people in the labour market, and the pay-off of undertaking education and training as an older-person compared to earlier in life.

On the whole, the results indicate the more qualifications the better, and education, lifelong learning and training are beneficial to maintaining and increasing employment rates. However, while the authors suggest the 'education effect' will partially offset the impact on the labour force, the demographic impact of the ageing population will dominate.