"At 51.7 Years Old, Promoted to Manager and Leaves... Monthly Living Expenses After Retirement Are 2.03 Million Won"

JobKorea Announces Survey Results from 534 Office Workers

[Sejong=Asia Economy Reporter Moon Chaeseok] It was found that office workers expect to retire at the department head level at an average age of 51.7.

Job platform JobKorea, together with Albamon, announced the results of a survey conducted on 534 office workers regarding their "perceived retirement age" on the 12th.

The average perceived retirement age was 51.7 years, which is more than 8 years earlier than the legal retirement age of 60. Office workers in large companies reported an average of 49.5 years, those in mid-sized and small companies averaged 51.7 years, and those in public enterprises and government agencies averaged 53.8 years.

By age group, workers in their 20s perceived the retirement age to be the lowest at 51.4 years, followed by those in their 30s at 51.5 years, and those 40 and older at 52.7 years. This shows that younger workers feel the retirement age is earlier.

Office workers expected to retire at the "department head" level. This suggests that many believe achieving the "executive dream" is difficult. When asked "What position do you expect to hold at retirement?" 40.3% of respondents answered "department head." Those who answered "deputy general manager" accounted for 19.7%. Only 14.6% expected to retire at the executive level.

It was revealed that a considerable number of office workers are preparing for life after retirement. When asked if they are preparing for life after retirement, 49.8% of respondents said "yes." Notably, even among workers in their 20s, 45% were preparing. Those in their 30s (51.1%) and 40 and older (57.8%) exceeded the majority.

The top priority for post-retirement preparation was "financial capability." Specifically, 79.3% answered that they are "saving and investing." More than half also responded that they are "preparing to obtain certifications to continue working" (53%) and "preparing hobbies and special skills for a comfortable life" (50.4%). Other responses included "preparing to start a business" (37.2%) and "gaining work experience through part-time jobs and N-jobs (holding two or more jobs)" (35.7%).

Respondents estimated that monthly living expenses after retirement would be around 2 million KRW. The average expected monthly living cost after retirement was 2.03 million KRW. By age group, it was 1.97 million KRW for those in their 20s, 2.02 million KRW for those in their 30s, and 2.17 million KRW for those 40 and older.