Two-thirds of older Koreans back raising retirement age: study

Seniors browse a job information board while listening to explanations about employment programs at a senior job fair held at the Mapo District Office in Seoul, Dec. 10, 2025. Yonhap

Two out of three Koreans aged 50 and older support extending the mandatory retirement age, a recent survey found, with respondents favoring an average retirement age of 66.3 — higher than the current eligibility age of 65 for the national and basic pension programs.

The National Pension Research Institute said Sunday that 66 percent of respondents supported extending the retirement age, while 34 percent opposed the idea, according to the 2024 Korean Retirement and Income Study. By gender, 66.2 percent of men and 65.9 percent of women favored the extension.

Launched in 2005, the study tracks households with members aged 50 and older, examining incomes, consumption patterns, assets, retirement preparedness, retirement planning, labor market participation and receipt of public pension benefits. The survey conducts its main study every two years, with supplementary surveys carried out in between.

The most recent supplementary survey covered 8,394 individuals nationwide, including household members aged 50 and older and their spouses.

Support for extending the retirement age varied by age. Among those aged 50 to 54, 64.8 percent were in favor, followed by 64 percent among those aged 55 to 59 and 65.7 percent among those aged 60 to 64 — all below the overall average. By contrast, support was higher among older respondents, reaching 69.9 percent among those aged 65 to 69, 70.4 percent among those aged 70 to 74 and 68.4 percent among respondents aged 75 to 79.

Support also differed by employment status. While 64.8 percent of employed respondents backed extending the retirement age, the figure rose to 67.7 percent among those who were not employed.

Respondents who favored an extension said they hoped to retire at an average age of 66.3, higher than the current eligibility age of 65 for the national pension and basic pension programs for those born in 1969 or later. The preferred retirement age was highest among respondents aged 70 to 74, at 66.9 years.