Labour unions push to raise retirement age in greying South Korea ...Middle East

SEOUL, Aug 29 (Reuters) – South Korean labour unions are battling company managements to press an unusual demand: raising the age of retirement to give workers a few more wage-earning years before having to seek another job to supplement slim pensions. The issue fuels a contest for jobs between older workers among one of the world’s fastest-ageing populations, with a rate of poverty among its elderly of three times the OECD average, and young workforce entrants facing dwindling options. “Having to move to low-quality jobs after retirement is perpetuating unstable labour for people in their 60s,” one of the two largest umbrella unions, the Federation of Korean Trade Unions (FKTU), said in a

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Last updated : 29 August 2023 clock 11:17 AM

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Labour unions push to raise retirement age in greying South Korea ...Middle East

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