• Journal of Labour Economics
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• v.38 no.1
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• pp.31-65
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• 2015

This paper examines why older wage workers leave their jobs and what determine the hazard of retirement. Major results are as follows. First, aged workers leaving their jobs because of formal mandatory retirement are relatively few in number and largely males employed in large establishments. Second, a higher hourly wage is associated with a greater retirement hazard, especially among male employees of large firms. Third, informal mandatory retirement puts a strong pressure towards retirement among older female workers. Fourth, poor health is the primary reason for retirement among older workers, especially for females and small-firm employees. Finally, reasonable hours and greater flexibility of work tend to lower retirement hazard. We discuss some implications of the results for old-age labor market policies.

• Journal of Teachers' Pension
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• v.2
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• pp.103-129
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• 2017

본 연구는 사학연금 퇴직자 자료를 활용하여 공적연금 사각지대를 보완하기 위해 마련된 연계연금 선택자와 일시금 선택자간의 가입행동을 분석하였다. 분석결과에 따르면 남성이며, 연령이 높을수록, 재직기간과 소득수준이 높을수록 연계연금을 선택할 확률이 높아지는 특징을 지닌다. 첫째 퇴직자 중 직원인 경우 연계연금을 선택할 확률이 높아지는데, 초중고 및 대학교 교원의 경우, 연금수급을 위한 최소재직기간(2016년 이전 20년)을 충족하고 연금수급권을 확보하는 경향이 높다. 둘째, 여성의 경우 연계연금 보다 퇴직일시금을 선택하는 경향이 높은 것으로 나타난다. 셋째, 사학연금의 경우 남성에 비하여 여성의 가입비율이 월등히 높으나 직무와 학교급 별로 저임금-비정규직 등 취약한 지위에 놓인 여성이 남성에 비하여 연계연금 수급권을 확보하지 못하고 있다.

• Korean Journal of Culture and Social Issue
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• v.26 no.4
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• pp.379-407
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• 2020

This study examined the psychological and social factors of middle-aged conglomerate executives in Korea for successful adaptation after their involuntary retirement. For this, in-depth interviews on 13 retired executives (male, average age 58.2) including changes over time and their assessment or interpretation on them were conducted, and the contents were analyzed in phenomenological methods. As a result, 'financial preparation' and 'spousal support' were predisposing factors of adaptation. The starting point of adaptation was 'acceptance of reality', which consisted of subfactors such as reevaluating the past life, acknowledging various changes and deviating from the past, accepting themselves as common retiree in the 50s, living with anxiety, and the need of proper time. Next, they made cognitive and emotional reevaluations and reevaluated the value of life, and reestablished 'psychological reconstruction' and 'ego identity' through new activities that they chose. Their retirement and adaptation processes after retirement are the conflicting process from their experience as a conglomerate executive that satisfied psychological and social capital and the consequent story on maladaptive coping style, as well as a narration in cognitive, emotional and behavioral perspectives to overcome such disharmony. Results of this study provides implications for corporations, nation and retirees on handling retirement.

• Journal of Labour Economics
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• v.38 no.4
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• pp.1-29
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• 2015

The Individual Retirement Pension (IRP) enables workers to continuously receive a retirement pension even when workers change their jobs in different companies and so it performs a bridge fund as the complimentary living expenses until they receive government public pension. Although the Korean government has forced workers to maintain an IRP account until their retirement age and to close their accounts only when they want to do so, it is not clear to measure its really effectiveness and, in fact, most of IRP accounts have been terminated immediately after the changes of their jobs. In this respect, IRP has not performed the bridge role for the future retirement pension income. We provide an economic decision-making model of both government and workers, where the retirement benefits related with the IRP are explicitly considered. Our model is required to select specific severance pay systems to maximize the income security and stability for their future old ages. It is concluded that the need of workers on the severance pay system is automatically revealed into the switch to IRP when workers are out from their current jobs, which is equivalent to the effect of gradually unifying the dual system of the retirement payment. In additoin, our empirical data indicates the relatively higher probability of termination on IRP for the older male workers having the more retirement deposit.

• Journal of the Korean Home Economics Association
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• v.43 no.2
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• pp.143-158
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• 2005

The purpose of this study was to determine the protective factors that strengthen the adaptation ability by analyzing individual, family, and social activities variables which impact on the adjustment of retired men. The sample for final data analysis was 233 questionnaires completed by retired men aged from 45 to 65 years living in Seoul and the Metropolitan area. Statistical analyses were carried out using SPSS/WIN which included Frequencies, t-test, one-way ANOVA, and regression analysis. The results were as follows: 1. The degree of the retired men's adaptation was 3.22 out of 5. 2. The retired men's adaptation was affected by the variables in the following order: marital satisfaction, economic life satisfaction, acceptance for retirement, recreational facilities satisfaction, recognition for retirement, and cohesion. These variables explained 65.3% of the retired men's adaptation to life. The findings of this study could be utilized as basic data for developing educational programs and guiding policy-making to help retired men achieve development.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.4
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• pp.452-462
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• 2020

This study analyzed the impact of resilience on the job satisfaction of middle-aged employees and the meditating effect of retirement attitude. The survey was administered to 468 regular workers aged 40 or older in Seoul and the surrounding metropolitan area. This study utilized SPSS 19.0 statistical program, and multiple regression and mediated effect analyses were applied with descriptive statistics, reliability and validity of measurement tools to analyze differences between correlations and groups. First, male workers had higher self-regulation ability and job satisfaction than women. Female workers had higher old age rest than male ones. The higher the educational background, the higher the recognition of retirement as a new beginning, The longer the working years, the higher the self-regulation ability and job satisfaction. The higher the household income, the higher the positiveness. Second, the Resilience had a positive effect on job satisfaction. Third, resilience had had a negative impact on the forced frustration and a positive influence on the new beginning of retirement attitudes. Fourth, the forced frustration and new beginning showed mediating effects of resilience and job satisfaction. The study results confirmed the importance of resilience and demonstrated the need for measures to enhance resilience in order to reduce anxiety about retirement and increase job satisfaction.

• 한국노년학
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• v.39 no.2
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• pp.261-284
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• 2019

This study examines the vocational adjustment experiences of elderly men who chose a creative occupation after retirement. The aims are to understand the related meanings and to provide specific empirical data on the elderly who hope to start a creative occupation. Five men aged 65 years or older who chose a creative occupation after retirement were enrolled in the study. Data were collected through in-depth interviews with the participants. The collected data were qualitatively analyzed, and a total of 7 categories, 25 subcategories, and 132 concepts were identified. The seven categories were "challenge led by a sense of freedom," "reflection of the need for 'fun,'" "difficulties and limitations felt by a non-expert," "concerns and effort to afford the increasing expenses," "joy for accomplishment," "ways to utilize my creativity," and "reward from increased social participation." The participants felt that adjusting to a creative occupation was a process by which their potential creativity was expressed. They felt the joy of working that they had not felt before, and the series of processes by which they overcame difficulties during work and increased their social participation were in line with the goals of creative aging. In order to help older adults in Korea to choose and adjust to creative occupations in their older adulthood, there is a need for creative-occupation-related education prior to retirement and for various policies and practical efforts that consider the change of social environment. Furthermore, our findings suggest that choosing a creative occupation after retirement is an effective measure for promoting successful aging among the elderly in Korea.

• Journal of Labour Economics
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• v.26 no.3
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• pp.1-28
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• 2003

This article examines the employment status of older male workers in the era of industrialization, focusing on the questions of how the extent of pressure toward retirement varied across different occupations, and how it changed over time. A comparison of hazard of retirement across occupations shows that men who had better occupations in terms of economic status and work conditions were less likely to retire than were those with poorer jobs. This result tends to reject the recent view that retirement was more voluntary than forced as early as a century ago. The difficulty faced by older workers in the labor market, as measured by the relative incidence of long-term unemployment, was relatively severe among craftsmen, operatives, and salesmen. In contrast, aged farmers, professionals, managers, and proprietors appear to have fared well in the labor market. The pattern of shifts in the occupational structure that occurred between 1880 and 1940 suggests that industrialization had brought a growth of the sectors in which the pressure toward departure from employment at older ages was relatively strong.

• Journal of the Korean Home Economics Association
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• v.40 no.1
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• pp.1-21
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• 2002

The purposes of this study is to classify retiree's job, leisure, and family attitude; to identify the characteristics of each attitude types; and to examine the retirement adaptation level of each attitude type. The major findings of the study are as follows: First, four attitude types can be categorized: 'the job involved attitude type', 'the total positive attitude type', 'the leisure positive attitude type', and 'the total negative attitude type'. Second, the result of the discriminant analysis shows that 'the job-family experience before retirement and number of unmarried children' element was the most crucial in classifying the retiree's attitude. And 'the retirement reception and individual resource element' was in orders of discrimination power Third, 'the total positive attitude type' is the highest level of retirement adaptation.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.5
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• pp.495-507
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• 2020

This report addresses the question whether resilience affects attitudes of middle-aged employees toward retirement. Are resilient employees more prepared and/or ready for retirement? To address this question, a survey of over 214 employees aged 50 or more was taken. Participants worked in the Seoul metropolitan area. This study utilized the SPSS 19.0 program. A sophisticated regression analysis software system was conducted to measure and identify relationships and correlations among groups of participants. Our findings included four points. First, male employees were better prepared for retirement than women. Second, the more educated (or the higher the household income), the better prepared was the participant for retirement. Third, the more resilient a worker was, the less was the resistance expected from him/her on retirement. Finally, a positive attitude was an indication the worker would be well-prepared for retirement. In summary, workers who displayed resilience and a positive attitude in their work were best prepared for retirement.