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Despite the policy importance of lifelong learning, there is very little hard evidence from the UK [United Kingdom] on: (a) the extent of lifelong learning; (b) who undertakes lifelong learning and why; and (c) the benefits of lifelong learning. This paper attempts to address all three of these questions. Specifically it identifies the factors that determine whether someone undertakes lifelong learning, defined very narrowly for the purposes of this research as learning between the ages of 33 and 42, that results in a qualification. It then models the effect of the different qualifications acquired via lifelong learning on individuals' economic outcomes, namely wages and the likelihood of being employed. The paper uses a rich longitudinal panel data set of individuals born in 1958, called the National Child Development Study [NCDS]. Our results provide strong evidence that there are employment effects associated with lifelong learning. Our research has highlighted some important research questions. Firstly, we need to improve our understanding of who is undertaking lifelong learning and why. Another point that needs to be borne in mind is that our study focuses on qualification-oriented learning and this is a very particular sub-set of all lifelong learning. Also, the possible differences between short-term and long-term effects of lifelong learning have not been explored in this paper. We intend to consider other potential, non-economic outcomes and to try to understand the motivation behind the extensive amount of lifelong learning that is evident in the NCDS data.