Title: Analyses on the determinants of elderly workers' plans to retire and desired retirement age

Authors: Moon-Hee Shin; Young-Min Lee

Addresses: Department of Human Resource Development Policy, Graduate School, Sookmyung Women's University, 100, Cheongpa-ro 47-gil, Yongsan-gu, Seoul, 04310, South Korea ' Graduate School of Human Resource Development, Sookmyung Women's University, 100, Cheongpa-ro 47-gil, Yongsan-gu, Seoul, 04310, South Korea

Abstract: This study analyses the determinants affecting elderly workers' plans to retire and their desired retirement age, in order to better understand and prepare for their retirement and establish supportive policies. Eighteen years of personal data and additional survey data, provided by the Korean Labor & Income Panel Study, were used for this study. The results of the analysis showed that factors having a significant impact on elderly workers' plans to retire were gender, age, marital status, gross annual earned income after taxes in the past year, subjective health conditions, employment status, financial preparedness for retirement, level of social participation, and overall life satisfaction. The research also revealed that gender, age, education level, marital status, subjective health condition, employment status, and level of social participation impact desired retirement age. Based on the above research results, discussions are offered on policy implications.

Keywords: elderly workers; retirement; retirement age.

DOI: 10.1504/IJEPEE.2019.099737

International Journal of Economic Policy in Emerging Economies, 2019 Vol.12 No.2, pp.158 - 165

Received: 16 Mar 2018
Accepted: 17 Oct 2018
Published online: 20 May 2019 *

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