• Survey Research
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• v.12 no.1
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• pp.65-88
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• 2011

This study analyzed the work and retirement behavior of middle- and old-aged Koreans using panel-data based multi-state life table models. Compared to previous studies that have mainly focused on gender differences in the work and retirement behavior, this study also analyzed educational differences in the retirement life course. With respect to the heterogeneity of work and retirement experiences, this study finds that the retirement life course of men and women differs substantially. Despite their longer life spans, women are expected to have shorter working life expectancies but live in a non-working state longer, resulting in a substantially higher proportion of non-working state in their lives. In terms of educational differences, this study finds that there is little difference in the expected length of stay in the labor force across educational levels but that poorly educated persons are more likely to spend a greater proportion of their lives in the labor force due to their shorter non-working life expectancies.