Analysis of RetiredWomen’s Income Sourceand the Amount of Income in Korea :Focus onComparing Voluntary Retirees to InvoluntaryRetirees

Abstract

Using data colected from a survey of ‘middle- and old-aged people ’ in the 6th year(203) of Korea Labor and Income Panel Study(KLIPS), this study analyzed the characteristics of retired women who were compared voluntary zed factors influencing their main income source using the multinomial logit model and the amount of income using the censored normal regression. The results of this study are as follows. Firstly, involuntarily retired women had higher income after revoluntarily retired women and the diference was even bigger wh en only women with income sources were considered. This means that voluntarily retired women tend to depend on the income of the spouse or oth er family ic income transfer by the government if they do not have private transfer income from the spouse or other family members. Secondly, in the analysis of factors determining main income sources after retirement, only personal and family charafound to be influential factors. This may be because retired women aged over 50 generally have a low employment status before retirement and, as a result, their experiences in the labor market are not much diferent. Thirdly, female arket before retirement had a higher income after retirement than those who had been other types of workers. This implies that stable employment and steady labor income before retirement can be the best alternative guaranteeing economic welfare