• Korea journal of population studies
• /
• v.35 no.2
• /
• pp.133-157
• /
• 2012

This study analyzed plans for retirement by focusing on preferred retirement timing(PRT) measure. Current pension program show rather strong guideline about the timing of full-retirement. This study asked whether the middle age group are willing to retire correspond to the policy guidelines or not. Research sample came from 2008 KLOSA data, recruiting 1,367 workers who are residing in cities or in metropolitan area (women: 34.8%). I have analyzed one item question asking "In what age do you want to fully retire?", The results showed that, about two third of respondents declared they do not want to retire unless they have health problems, or would expect to retire no earlier than age 70. However, a third of respondents expected normal retirement coming between 60~64. Second, the determinants of timing for retirement were differ by PRT. Social determinants, such as gender, short work hours, being employed, and higher status in family income were associated with early PRT. While, good health status, positive view on the future economics were highly associated with late PRT. The results reveal that the timing of retirement is getting more diverse and obscure in the individual level.

• Korean Journal of Clinical Laboratory Science
• /
• v.49 no.2
• /
• pp.171-179
• /
• 2017

This study investigated the influence factors of retirement expectations among medical technologists at medical centers in Seoul and Gyeonggi area, Korea. Subjects were 158 medical technologists. Using a sampling survey method, data was analyzed between July 2015 and December 2016. There was a negative correlation between educational level and economic preparation, but gender and monthly income did not reach retirement expectation level. Conversely, we found no change in the trends with respect to gender, monthly income; nonetheless, we observed that frustration gradually increased with age and working duration. In conclusion, our findings show that there are four factors that significantly influence retirement expectation and preparation: age, level of education, working duration, and family condition. This study contributes to understanding retirement expectations and can be a reference for retirement preparation in medical technologists.

• Journal of Labour Economics
• /
• v.29 no.1
• /
• pp.129-152
• /
• 2006

The purpose in this study is to analyze the effect of expected public pension assets (or social security wealth) and retirement incentives on retirement behaviors of two wage earners households. For the purpose of the study, an empirical analysis was conducted. In the empirical step, it was found that the empirical results were significant for men, but not for women namely, statistically asymmetric if behaviors of two couples are interdependent. The cause for the statistically asymmetric results were then determined. The Bivariate Probit model was used for estimation in the first step and the KLIPS(Korean Labor and Income Panel Study) was used as data for estimation. According to the empirical analysis, the results showed statistically significant asymmetry for men, however not for women, in expected public pension assets and other retirement incentives, non-wage assets, age difference, spouse's health status, spouse's monthly wages per hour and aging of their spouse In this study, cause of statistically asymmetric result in asymmetric complementarities of leisure of couples were found, then explained through different methods of comparison from the most recent studies. First, spouse's cross wage elasticity of self leisure demand(retirement) was calculated and determined whether complementarities of leisure of couples is positive or negative. Then, the degree of complementarities of leisure was distinguished in comparison with the relative size of two cross elasticities. Thus, men have relatively strong complementarities of leisure. But for women, it may roughly cancel out due to the substitution effect and the income effect. Therefore, women have relatively weak complementarities of leisure.

• Korean Journal of Social Welfare
• /
• v.66 no.1
• /
• pp.61-85
• /
• 2014

Lately, as the problem of the aged poverty becomes a big social issue, this paper studies the problem of financial stability with respect to the income and consumption of before-and-after retirement generations. After dividing the data in Korean Longitudinal Study of Ageing(KLoSA) into retired and non-retired groups, this study compares the difference among ageing groups by cross analysis and t-test. First, the result tells that the total personal income of retired group is lower than the one of non-retired group. Second, the public pension income benefit ratio of retired group is only 30% of it's total income, and the amount of public pension appears to be 40% of the total pension income. The benefit ratio of the personal pension income is low as about 1% in both groups, The private transfer income of the retired group takes relatively large portion in its total personal income. Third, as people gets older, financial stability gets worse because consumption does not decrease as much as the income decreases. Fourth, it is turned out that the expectation of old life supporting from nation is low in both groups. Fifth, the factors that affects the income of the public pension in the retired group are gender, age, education, and health status, when compared with the factors to the personal total income of the non-retired group. In terms of policy, this paper emphasizes the needs of the intensification of the public pension and the support for the revitalization of the personal pension.

• The Journal of the Korea Contents Association
• /
• v.16 no.9
• /
• pp.66-77
• /
• 2016

This research defined causal relationships among the perception of retirement and senior life(PRSL), retirement preparation actions(RPA), and retirement satisfaction level(RSL) to know the expectation about retired life according to the differences of retirement related factors, PRSL, and RPA. For this, From November 2015 to February 2016, I researched from 20 to 69, 1,500 currently working adults in the country, mailing surveys with the letter introducing this research's purpose and procedure and having them send them back, or researcher's spreading and collecting the surveys, eliminating 83 cases of negligent answers, finally analyzing 1,417 surveys. The result shows age, monthly income, and residing at their own places made more positive PRSL, RPA, financial retirement preparation level(FRPL), and expectancy about satisfactory retirement life. When they had less children, PRSL and RSL were higher. When they had more children, RPA was more proactive, and FRPL was higher. When they had positive PRSL, RPA was more proactive, and expectancy about retired life was higher. This research is significant in defining differences of retirement related factors and causal relationships among PRSL, RPA, and RSL.

• 한국노년학
• /
• v.39 no.4
• /
• pp.861-881
• /
• 2019

The purposes of this study are to examine the factors affecting retirement satisfaction, focusing on health, social activity and social security anticipation, and to compare the results between young-old and middle-old. A total of 860 retired people who live alone or live with their spouses were selected from 6th Korean Longitudinal Study of Aging, and binomial logistic regression analysis was used to analyze 416 young-old(aged from 65 to 74) and 444 middle-old(aged from 75 to 83). The results are as follows. First, there was no significant difference in retirement satisfaction between young-old and middle-old. Second, when factors affecting retirement satisfaction was examined, young-olds showed hgher retirement satisfaction with higher perception of health condition and mental health condition, and showed lower retirement satisfaction with higher expectation of long-term care insurance. Middle-old was likely to show higher retirement satisfaction when they had better perspective on physical and mental health condition. The results of the study show that health condition of elderly is an important contributing factor in determining retirement satisfaction of the elderly. Based on the results of the study, political and practical suggestions were proposed to improve retirement satisfaction.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.1
• /
• pp.251-265
• /
• 2022

According to the 2019 statistics of the National Statistical Office, the population of old people over 65 is 7.69 million which consists of 14.9% of total population in Korea, and the world's fastest compressed-aging is being processed. Employees engaged in financial business as representative high-wage workers tend to choose voluntary retirement regardless of their business types, and rarely get a new job or establish their own business successfully. This study analyzes the effects of retirement expectations, social supports, and entrepreneurial intention for employees engaged in financial business, and the differences by individual characteristics on the preparation for their old age. The subjects include 280 people working at Seoul metropolitan and Daegu area. The data were analyzed with the SPSS Win Ver. 18.0 for frequency analysis, reliability analysis, factor analysis, regression analysis, etc. and the results of the study are as follows. First, the result of analyzing the effect of retirement expectations of employees engaged in financial business on the preparation for old age shows that the retirement expectations of the people who consider retirement is a new start meaningfully affect the financial and physical preparations for old age. Second, it is shown that family relations for employees engaged in financial business meaningfully affect the financial preparation, and family relations and friendship relations meaningfully affect the emotional and social preparations, despite social supports do not relevantly affect the financial preparation for old age. Third, it is also shown that the entrepreneurial intention of employees engaged in financial business does not relevantly affect the financial and physical preparations, but meaningfully affects the emotional and social preparations for old age. Fourth, the result of analyzing the effect of the individual characteristics of employees engaged in financial business on the preparation for their old age shows that age, marital status, and job grade do not relevantly affect, but the experience of entrepreneurship education more affects the preparation for old age than no-experience.