Pension Recipients Reach Record 51.7%
Average Monthly Pension Amount Hits 860,000 Won
The number of economically active seniors has surpassed 10 million for the first time. Their labor force participation rate reached a record high of 60.9%. As more seniors wish to continue working, not only to supplement living expenses but also for the enjoyment of working, the average desired retirement age has also reached a new high of 73.4 years.
A citizen is taking a photo of a job information bulletin board at an employment center in Seoul. Photo by Yonhap News
According to the "May 2025 Supplementary Survey on the Economically Active Population for Seniors," released by Statistics Korea on August 6, the population of seniors (aged 55 to 79) stood at 16,447,000, an increase of 464,000 compared to the same month last year. This accounts for 36.0% of the population aged 15 and older (45,734,000).
The economically active population among seniors, including both employed and unemployed individuals, was 10,010,000, an increase of 328,000. This is the first time the economically active population among seniors has exceeded 10 million. The number of employed seniors rose by 344,000 to 9,780,000, while the number of unemployed seniors decreased by 16,000 to 230,000.
The labor force participation rate among seniors was 60.9%, up 0.3 percentage points, marking the highest level since related statistics began in 2005. The employment rate for seniors was 59.5%, up 0.5 percentage points. In contrast, the unemployment rate fell by 0.2 percentage points to 2.3%.
By industry, the proportion of employed seniors was highest in health, social, and welfare services (13.7%), manufacturing (12.5%), and agriculture, forestry, and fisheries (11.0%). On the other hand, the proportions were lower in arts, sports, and leisure (1.3%), finance and insurance (2.1%), and professional, scientific, and technical services (2.5%).
Among employed seniors, the largest groups were elementary workers (22.6%), service workers (14.5%), and plant and machine operators and assemblers (12.6%). In contrast, the proportions were lower for managers (2.1%), clerical workers (8.3%), and sales workers (8.8%).
The average length of service at the longest-held job among seniors with work experience was 17 years and 6.6 months, an increase of 0.5 months. The proportion of people still working at their longest-held job was 30.1%, up 0.4 percentage points. Their average age was 62.6 years, unchanged from the same month last year.
The proportion of those who had left their longest-held job was 69.9%. The average age at the time of leaving was 52.9 years, up 0.1 years. The main reasons for leaving the longest-held job were business downturns, suspension of operations, or closure (25.0%). Other reasons included poor health (22.4%) and family care responsibilities (14.7%).
The proportion of seniors who experienced job searching in the past year was 20.0% (3,297,000), down 0.7 percentage points. The main job search channels were the Ministry of Employment and Labor and other public employment agencies (38.2%), and some utilized introductions or requests from friends or acquaintances (29.9%).
Among seniors, the proportion who experienced employment in the past year was 67.3% (11,074,000), up 0.1 percentage points. The majority, 85.4%, had only one employment experience. Among those who had employment experience in the past year, 71.0% said their most recent job was related to their main career job, an increase of 0.3 percentage points.
The proportion of seniors receiving a pension in the past year was 51.7% (8,502,000), up 0.5 percentage points. The average monthly pension amount was 860,000 won, an increase of 5.0%. Both the recipient rate and the average amount are the highest since related statistics began in 2008. The distribution of pension amounts was as follows: 250,000 to less than 500,000 won (38.5%), 500,000 to less than 1,000,000 won (33.1%), and 1,500,000 won or more (15.4%).
The proportion of seniors wishing to work in the future was 69.4% (11,421,000), unchanged from the same month last year. For the second consecutive year, this is the highest rate since related statistics began in 2005. The average desired retirement age was 73.4 years, up 0.1 years, also the highest since the indicator was first measured in 2011.
An official from Statistics Korea explained, "When considering those who wish to work in the future as 100, more than half (54.4%) cited supplementing living expenses as their reason for wanting to work." The official added, "The enjoyment of working (36.1%) was the second most common reason." The official also noted, "In recent years, the proportion citing supplementing living expenses has been decreasing, while the proportion citing the enjoyment of working has been rising."
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