Life Satisfaction of the Aged in the Retirement Process: A Comparative Study of South Korea with Germany and Switzerland

This study aims to examine relationships among various types of transitional retirement processes and life satisfaction. It conducted a cross-national comparison among Korea, Germany, and Switzerland using the Cross-National Equivalent File and the ordered logistic analysis method was used as the analysis model. We classify the retirement process by three types; the complete retirement type, the hopping type of post-retirement and the continuity type of post-retirement, and evaluate the life satisfaction in each type of retirement process. Our empirical analysis finds that workers of the complete retirement type have higher level of life satisfaction than workers working continually after retirement in South Korea, while workers continually working even after retirement periods have higher level of life satisfaction than workers of the complete retirement type in Germany and Switzerland. Based upon these empirical results, we also discuss the policy direction to improve the life satisfaction of the aged in South Korea.