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Classification of elderly workers for support policies customised for each target group

Author

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  • Sung-Eun Cho
  • Young-Min Lee

Abstract

Although the elderly population is growing, the elderly afford to pay for their living expenses after retirement with public pensions alone. In addition, more than half of the elderly population has indicated that they have insufficient old age guaranteed. As a result, many elderly people hope to remain in the labour market and continue working even after legal retirement age. For continuous working, appropriate employment policy is needed. However, as the current employment policies are mostly focused on reemployment of wage earners. The purpose of this study is to suggest support plans for the continuous working of elderly workers according to their particular characteristics. For the purpose, we conducted a cluster analysis of 663 elderly workers and classified elderly workers into three types. In the conclusion, we have proposed a support plan for those still in the labour market that fits the characteristics of the elderly worker types.

Suggested Citation

  • Sung-Eun Cho & Young-Min Lee, 2019. "Classification of elderly workers for support policies customised for each target group," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 12(1), pages 11-25.
    • Handle: RePEc:ids:ijepee:v:12:y:2019:i:1:p:11-25
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