This study examines educational inequality throughout the economic life cycle in Brazil on the basis of age-disaggregated data from 2018 national transfer accounts and household heads’ education levels. The analysis confirms patterns observed two decades ago, revealing marked disparities in the life cycle deficit —the gap between labour income and consumption— across education groups. Young people in less educated households rely heavily on public transfers to meet their consumption needs. Meanwhile, older persons across all education groups depend heavily on public transfers. With declining child populations, the findings emphasize that education investment is a vital policy tool to enhance labour income, reduce dependency on public transfers and support a more sustainable welfare system.