Retirement Life: A Comparative Look Between Korea and Australia
Retirement marks a significant life transition, and while it offers freedom and relaxation , it also brings new challenges and opportunities . The concept of retirement, however, differs greatly depending on where you live. In countries like Korea and Australia, cultural values, social expectations, and governmental support structures shape retirees' experiences in unique ways. In this blog, we’ll explore the key differences and similarities in the retirement experiences between Korea and Australia, focusing on retirement pension systems, post-retirement activities, and the overall lifestyle. 1. Retirement Age and Pension Systems: Criteria and Benefits Australia: The retirement age typically starts at 67 , depending on when you were born. Australians rely heavily on a superannuation system (compulsory pension contributions from employers), which is designed to provide a source of income for retirees. However, retirees may also rely on private savings or investments. The gov...