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In recent years, the employment rates of people of pension age have increased considerably. However, longitudinal evidence on the effects of this employment on wellbeing which might contribute to an evaluation of this late-life work is scarce. Based on empirical findings so far and on theoretical approaches to wellbeing, work and retirement, both negative and positive effects of post-retirement work on life satisfaction are plausible. In this paper, we investigate the effects of taking up work again between the ages of 65 and 75 on life satisfaction in different occupational classes in Germany and the United Kingdom. We expect that not only the heterogeneous conditions and experiences of working are crucial for the consequences that post-retirement work has for life satisfaction, but also the institutional arrangements surrounding this form of work. We use data from the German Socio-Economic Panel and the British Household Panel Survey, covering the 1990s and 2000s. Based on fixed-effects regression modelling, we find positive effects of working in both countries, although not all effects are significant. Differentiating by the class of the job in which the older person works, we find mainly positive effects and no significant differences between those who work in a lower-class job and all others. In addition, we find that the positive effect of working on life satisfaction is partly explained by increased satisfaction with household income for those working in a lower-class job in the United Kingdom. We conclude that many of the pessimistic assumptions about people working after pension age cannot be confirmed for our time of observation. However, there are several reasons for believing that the results will be different in the future or for differently defined populations of people working past pension age. [ABSTRACT FROM PUBLISHER]

Aims: There is evidence that young people are less satisfied with their lives when they are unemployed or working in precarious conditions. This study aims to shed light on how the life satisfaction of unemployed and precariously employed young people varies across welfare states with different labour market policies and levels of social protection. Methods: The analyses are based on representative cross-sectional survey data from five European countries (Denmark, the UK, Germany, Spain and the Czech Republic), corresponding to five different welfare state regimes. For economically active young adults (N =6681), the prevalence ratios of low life satisfaction were estimated through multivariate logistic regressions. Results: In all five countries, unemployed young adults presented a higher prevalence of low life satisfaction. When we compared employees with people with permanent and temporary contracts, the former were more satisfied with their lives only in Germany and the UK, examples of conservative and liberal welfare regimes, respectively. Experience of unemployment decreased young adults' life satisfaction only in Germany and the Czech Republic, examples of a conservative and an eastern European welfare regime, respectively. In almost all countries, young adults with low economic self-sufficiency presented a higher prevalence of low life satisfaction. Conclusions: There are nuanced patterns of employment type and life satisfaction across European states that hint at welfare state regimes as possible moderators in this relationship. The results suggest that the psychological burdens of unemployment or work uncertainty cannot be overlooked and should be addressed according to different types of social provisions. [ABSTRACT FROM AUTHOR]