By: George Liao, Taiwan News, Staff Writer
According to the international labor statistics released by the Ministry of Labor, Taiwanese men and women retire at a much younger age than people in South Korea and Japan, two neighboring countries of Taiwan.
The average retirement ages for Taiwanese men and women are 62.8 and 60.7, respectively, about 10 years younger than the respective average ages of 72.9 and 70.6 for South Korean men and women, and 7 years younger than the average ages of 69.3 and 67.6 for Japanese men and women.
The labor force participation rate among Taiwanese people between ages 25 and 29, the most significant labor force participation age group in Taiwan, is the highest among all countries at 92.5 percent. However, the labor force participation rates for Taiwanese people in the 55-59 and 60-64 age groups drop significantly to only 55.1 percent and 35.8 percent, respectively, which are the lowest among all countries. [FULL STORY]