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Worker’s Recognition of the “Retiring Age Law” and Policy Needs for the Deferred Retirement Age

In-Hee Hahm 1

1이화여자대학교

Accredited

ABSTRACT

April 23. 2013, “Retiring Age Law”, regulates worker’s retirement age as 60 yearsold, has passed the National Assembly in Korea. The law has introduced consideringlabor market’s ageing trend. It is quite difficult to predict the impact of the newlaw on the labor market and corporate management strategy. However, most expertson this issue agrees the law will bring in the unprecedently powerful impacton the labor market. This article intends to explore such research questions as how workers themselvesrecognize deferring retirement age law, how flexible they are to accept various tensionsand conflicts in company level caused by the implementation of the new law,what kind of policy needs they suggest to the company they work for etc. Web survey and focus group discussion are used as the research method. 1076 caseof the web survey and 14 members of the FGD are included in the final analysis. Survey begins July 24th. and ends August 1st in 2013. Research results show that over 95% assented to the deferring retirement law. Butthe 10 year gap appeared between hopeful working age and possible working age. Worker’s acceptance level were generally high to the seniority and hierarchy reverse,ageing of the organization, evaluation by the performance. The reputation ofthe old and senior workers performance measurement were higher than the youngerones. Old workers got the high score to the such competencies as committmentto the company, leadership, work knowledge and skill, integrity and responsibility. Only 1/3 of the respondent agreed that as workers are ageing productivity levelsare decreasing. Policy needs for the deferring retirement age are ‘Education and Re-education forthe retirement or new start an enterprise etc.. Expanding part-time or flexible timework’, Developing old worker-friendly job or position were followed. At the woker’slevel, physical and emotional health, and communication competency with the different generations.

Citation status

* References for papers published after 2023 are currently being built.