• Korean Journal of Social Welfare
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• v.57 no.3
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• pp.415-435
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• 2005

The purpose of this study was to investigate conceptual constructions which determined financial preparedness for retirement. This study was guided by two theoretical frameworks, planned behavior theory and hierarchical personality model. Based on two theories, the conceptual framework which aimed to explain financial preparedness for retirement were formulated. Data from 'The health and welfare profile of the elderly aged 65 and or older in Chung-choo city' was analyzed. The subjects consisted of 87 economically active elderly population. Structure equation model was employed for statistical analyses. The results of structure equation model revealed that the casual relationship between the level of perceived financial-planning knowledge and the level of financial preparedness for retirement was statistically significant. Also, the hypothesized structural model for financial preparedness for retirement had the good model fit. Implications for social work practice from this study were discussed.

• The Journal of Industrial Distribution & Business
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• v.10 no.10
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• pp.15-21
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• 2019

Purpose - This study is intended to explore influential factors on the life satisfaction of physically challenged laborers preparing for support plans for their future. This is to enjoy a better life and have social opportunities and to review institutional support or plans for implementation to be applied for physically challenged people. Research design, data, and methodology - 4,161 disabled people participated in the Panel Survey of Employment of the Disabled. Among 2,124 physically challenged people, 957 wage workers (45%) were primarily extracted in this study, and a total of 581 (27%) with sufficient responses on the questionnaires were finally selected. Results - First, physical preparation for later life had a positive influence on retired life satisfaction among retirement satisfaction. People showed higher retired life satisfaction. Secondly, physical preparation for later life had a positive influence on satisfaction over relationship after retirement among retirement satisfaction. Conclusions - In this study, it was found that job satisfaction was the variable with the highest influential power on life satisfaction. Therefore, it seems to be necessary to proceed a research as to which factors influence life satisfaction in the medium of job satisfaction and also about plans to improve job satisfaction on experts or the disabled.

• Journal of Families and Better Life
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• v.30 no.2
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• pp.137-152
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• 2012

The graying of populations is emerging as an international issue around the world, and this is a problem that is rapidly advancing in Korea as well, signaling the need for financial preparations for the aged. For this purpose, various retirement pension systems are being employed as preparatory measures for the nation's elderly. Using data from 1474 people in the 2007 panel study of National Security for the Retired, the present work attempts to look at satisfaction rates with regard to public pension receipts for the national pension and special occupational pensions according to general characteristics and factors related to the preparation for an aging society. Satisfaction with retirement pension receipts according to the type of pension was high for special occupation retirement pensions, individual retirement pensions and the national retirement pension, in that order. Looking at satisfaction rates based on the general characteristics of pension recipients, the study revealed that for the national pension, satisfaction was highest for groups with above-average physical and psychological health, groups who think appropriate living expenses for the elderly are lower, groups in which a partner also earns income, and groups who had amply prepared for their expected living expenses in later life. Regarding special occupation retirement pensions, satisfaction was high for groups over the age of 70, groups with good psychological health, and groups sufficiently prepared for their living expenses in later expenses, compared to groups for which these factors did not apply. In terms of the relative influences impacting retirement pension recipient satisfaction, satisfaction with the national pension was highest when the primary source to cover elderly living expenses was a resource other than income earned by the recipient and their partner and/or income received from children. Concerning special occupation retirement pensions, satisfaction was highest among those whose education terminated before middle school, and for those in good physical health. Based on the above results, it is vital that plans exist for preparing sufficiently for the living expenses of the elderly and for facilitating the physical and psychological health of pension recipients. Plans are also necessary to, ensure that citizens are provided with easily accessible educational programs and activities regarding general installment savings and deposits, stocks and bonds, real estate investments, individual retirement pensions, private insurance, severance pay pensions, and public pensions.

• Journal of Labour Economics
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• v.24 no.1
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• pp.177-205
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• 2001

This study investigates a long-tenn effect of labor career during middle life on the retirement process and income status later in life course. Two waves of KLIPS (Korean Labor Longitudinal Panel Survey) data sets collected in 1998 and 1999, are employed, which include detailed information on economic activities among those aged 15 and over. Results show that temporary, contracted workers during middle life not only have higher risk of job loss and poverty than those in permanent work status but also they are more likely to experience a stressful retirement process later in life course.

• 한국노년학
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• v.31 no.1
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• pp.15-31
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• 2011

The purpose of this study is to explore the transition to retirement of the middle-aged in Korea according to the notion of "the career job" and "the bridge job". In order to scrutinize basic elements for the transition, three aspects such as the job history of the middle-aged, the characteristics of the demographic and economic status were investigated through the one to three wave of Korean Retirement and Income Study(KReIS). In addition, the characteristics of the career job and the bridge job were analyzed by both descriptive statistics and the conditional transition probability. Moreover, the influential factors to the job status of the middle-aged were examined by the multi-nominal logistic regression. The results of the study are as followed: first, gradual retirement is increasing in the transition to retirement of the middle-aged in Korea. Over time, the career job is decreasing whilst bridge job is increasing. However, the quality of the bridge job is poorer than the career job in terms of wage, employment status, industry, and occupation. Lastly, the middle-aged who work in the bridge job have vulnerable characteristics, so they work in the bridge job to supplement their economic needs. The results can be influential in the adjustment of the labor policies for the middle-aged in Korea. Moreover, the partial pension system could be a good alternative since the pension system is needed to protect the vulnerable situation of the middle-aged in Korea.

• 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.

• Journal of Fisheries and Marine Sciences Education
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• v.27 no.1
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• pp.18-28
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• 2015

This study aims to understand the meaning that learning of the old age has, through old age learners who augustly live after retirement-life so called successful silver years. Qualitative research methods is used for analyzing the contents of articles about 15 old age learners and the results are follows below. First, the retirement has dual meaning for the old learners. One is they experienced psychological and emotional insecurity after retirement and the other is it is a turning point for them to realize their longtime dream. Second, the old age learners showed enthusiasm about learning and they voluntarily found the way of success in their silver years. Finally, the old age learners working in new career with provocative and enthusiastic attitude work as a role model of successful old age life and show how they progress. This study argued that we need to consider the old as active agents and the old age as the time when productive and continuous learning can be done. In addition, this study strongly insisted that we need to realize the importance of 'education by the elderly' and social and other relevant conditions are needed to be established immediately.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.8
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• pp.3427-3435
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• 2012

Beginning with retirement in 2010 of the leading group of baby boomer generation born in 1955, baby boomers are starting to retire from work in full-scale. Since retirement of baby boomers refers to increase in the senior class with longer life expectancies caused by development of medical technologies, enhancement of living standards, and improvement of surrounding environments, annually decreasing birthrate is further accelerating entry of our society into an aged society. Accordingly to examine baby boomer generation's preparation for retirement in relation to career self-efficacy, first, difference in retirement preparation according to mean monthly income and current occupation was analyzed. Second, the effect of career self-efficacy on retirement preparation was studied. The survey for this study was conducted for one month between January 17 and February 16, 2012 in Seoul, Gyeonggi, Gangwon, Chungnam, Gyeongnam, Jeonnam, and Jeju. 500 surveys were distributed to baby boomer generations through direct visit and mail, among which 443 responses were returned. 400 effective responses were selected as subjects of the study. As a result, preparation for retirement according to mean monthly income was verified to be significant in terms of economic and physical factors. Significant results were shown in all factors including economic, physical and social factors for retirement preparation according to current occupation. Career self-efficacy had greatest influence of 58% on retirement preparation with economic factors. It also influenced all factors including self assessment, objective setting, occupational information, and problem solving.

• 한국사회정책
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• v.19 no.2
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• pp.69-97
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• 2012

This study has sought to analyze factors affecting work and work preference of older adults at national and individual level. A few theoretical hypotheses such as economic need versus job opportunity (or employability), attitude toward paid work, pull effect versus push effect were tested for citizens in eighteen OECD countries with International Social Survey dataset(2005) using multi-level analysis. Main findings are as follows. First, most older adults wanted to work regardless of the socio-economic status, which implies that non-work of older adults would be due to involuntary constraint rather than voluntary choice. Second, there existed class inequality in that the higher class tended to involve paid work more than the lower class did among 55-64 age group. Third, the push factor such as part-time employment ratio, rather than the generosity of social security, explained the work and retirement patterns better. In conclusion, at least from the comparative perspective, the main problem of older adults' work seems to be of labour demand rather than of labour supply, to be of labour market structure and work opportunity rather than of the pull factor.

• Korean Journal of Human Ecology
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• v.16 no.2
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• pp.285-298
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• 2007

The purpose of this study is to find out specific ways to invigorate the employment of the elderly. To achieve this goal, attitude and information about elderly employment were required, and the groups divided based on them were found. The results of the research are as follows: 1. Attitudes toward employment of the elderly was considerably positive. Among the attitudes, the attitude toward employment-support was the most positive, and the attitude toward employment-motive was relatively less positive. 2. The extent the elderly possessed information about employment was comparatively limited, and quite a low score was shown in knowledge of employment-information of the elderly, which means the elderly are not exposed to the ways to get employed. 3. The groups were divided in four type: passive-stagnation, positive-adjustment, lack of information-work oriented, retirement oriented. Of the employed, the positive-adjustment were the most and the passive-stagnation were the least, while the lack of information-work oriented were the most and the retirement oriented were the least of the unemployed. The result that the lack of information-work oriented were the most of the unemployed shows the choice of unemployment was not an intended one.