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Koreans increasingly preparing for elderly life

Jan. 18, 2012 - 15:48 By Korea Herald
More Koreans are preparing for life after retirement as they wish to live independently, a survey report said Wednesday.

The report by Statistics Korea showed that 65.7 percent of those surveyed said that they are preparing for their elderly life in 2011, much higher than 32.9 percent in a similar survey conducted in 1998.

The ratio for male respondents stood at 73.2 percent in 2011, up from 43.4 percent, while for women it grew to 58.5 percent from 23 percent over the same period.

The increase is attributed to the growing need to prepare for elderly life as an increasing number of people wish to live separately from their children after retirement.

Worries that they could be left alone after their spouses’ death also played a role in boosting the number, according to the survey.

The statistics agency said that people wishing to live with their children after retirement plunged to 29 percent in 2011 from 53 percent reported in 2002.

The number of single-member households among senior citizens aged 65 and older, meanwhile, grew to 34 percent from 20 percent tallied in 1990, according to the report.

The report showed that people who received higher education tend to be more anxious about their life after retirement.

Of those with college degrees, 80.5 percent said that they are preparing for elderly life. The comparable ratios for those who graduated from high school and middle school stood at 64 percent and 60.3 percent, respectively, the report showed. 

(Yonhap News)