The economically active population has been aging rapidly. As Baby Boomers (born in 1955-63) have started their retirements, the society itself is aging, and the low fertility level has been accelerating its further descending progress. The size of the population aged 55-64 is anticipated to be greater than that in their 20's by 2016, and the proportion of actively working people over 55 in employment is gradually increasing. Recently, the size of the aged, self-employed group, especially in transportation, accommodation, and restaurant sectors has increased.
Given that, an institutional framework is required to provide job security during their working age and financial security even after their retirement. This report, therefore, suggests an expansion of supporting programs for the aged, self-employed, an extension of the legal retirement age, and improvement of policies to guarantee life quality after retirement by conducting research on the economically active portion of the population and analyses on the government's job program for senior citizens and related budgetary activities.
Suh Jaeman
Given that, an institutional framework is required to provide job security during their working age and financial security even after their retirement. This report, therefore, suggests an expansion of supporting programs for the aged, self-employed, an extension of the legal retirement age, and improvement of policies to guarantee life quality after retirement by conducting research on the economically active portion of the population and analyses on the government's job program for senior citizens and related budgetary activities.
Suh Jaeman