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Authors

Choi

Abstract

This paper analyzes the changes in work hours and the economic profile of the elderly for a period of 11 years before and after retirement. Workers of all economic status decreased their work hours gradually as retirement approached. But findings show that, as they decreased their work hours, workers with higher preretirement economic status experienced more drastic reduction in income than those with lower economic status. Nevertheless, the preretirement income gap was maintained in postretirment economic status mostly due to differences in asset income and pension benefits. Policies to assist low-income retirees are recommended.

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