Abstract:  In order to study the influence of South Korea’s pension system on retirement decision-making under the background of aging population, the panel data of the elderly labor force is used to make an empirical study and it is found that prospective incentives related to the public pension system have a statistically significant impact on retirement probability; Elderly employees respond more to the additional income and increased pension benefits that come with continued employment than to the economic gains that come with greater pension wealth; In particular, intergenerational income transfers from children to parents have a significant impact on parents’ life in retirement, showing that low fertility rate makes it harder to alleviate poverty in old age and keep pensions stable. The effect of the public pension system on retirement decision-making in South Korea will bring some enlightenment to analyzing China’s low fertility rate and raising the fertility rate.
Key words:  population aging; pension; retirement; old age labor supply; enlightenment   北京邮电大学学报（社会科学版）2023年第4期第25卷第4期2023年8月北京邮电大学学报（社会科学版）Journal of Beijing University of Posts and Telecommunications（Social Sciences Edition）Vol.25，No.4Aug.2023

Key words:  population aging, pension, retirement, old age labor supply, enlightenment