Seoul Citizens Recognize Elderly Age Standard as 70.2 Years: 87.8% Support Retirement Extension

Seoul citizens perceive the average age standard for the elderly to be 70.2 years, which is approximately 5 years higher than the legal elderly age standard of 65 years.

According to the results of the '2024 Seoul Survey Urban Policy Indicator Survey' announced by the Seoul Metropolitan Government on the 9th, among the 5,000 Seoul citizens surveyed, 51.7% of respondents identified the elderly age standard as '70-74 years,' representing more than half of the total respondents.

In particular, respondents aged 65 and older reported an average elderly age standard of 72.3 years, indicating a tendency to recognize themselves as elderly at a later age. This seems to reflect a change in perception resulting from increased average lifespan and improved health conditions.

Perception Change Due to Increased Average Lifespan and Improved Health Conditions

The perception toward retirement extension was also found to be very positive.

A total of 87.8% of respondents agreed with the retirement extension, and among those aged 65 and older, this percentage rose to 92.7%.

Regarding appropriate retirement timing, 40.5% of respondents selected '65-69 years.'

Changing Perceptions about Later Life… Preference for Independent Living and Hobbies

When it comes to the necessary living expenses for later life, 53.3% of respondents indicated that an amount over '2.5 million won per month' is required, suggesting a heightened expectation for economic stability.

Overall, the surveyed citizens showed a much higher preference for 'hobby and cultural activities' (84.3%) or 'income-generating activities' (73.6%) over 'grandchild-rearing' (23.8%) as their desired activities for later life.

There is also a changing perception regarding living arrangements. Among respondents aged 65 and older, 64.8% expressed a desire to 'live independently in a separate living space close to children.'

The Seoul Metropolitan Government plans to use the results from this Seoul Survey as foundational data for future policy development. Kang Ok-hyun, director of the Seoul Metropolitan Digital City Bureau, stated, "We will closely analyze various social changes such as the aging society, increase in single-person households, and the foreign settlement environment, along with the changing flow of citizen perceptions, to create effective policies."

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