Does Retirement Affect Life Satisfaction? Differences Between Korean Men and Women

This study aims to examine whether and how gender influences psychological responses to retirement in Korea. We use data from the 18 waves of the Korea Welfare Panel Study, a nationally representative longitudinal panel (N = 15,129). We estimate changes in life satisfaction before and after retirement in later life through individual fixed effects models. These analyses are conducted separately for men and women. Our findings reveal that the effects of retirement on life satisfaction are gendered: For men, retirement leads to an immediate decline in life satisfaction followed by gradual recovery over time. In contrast, women generally experience stable or improved life satisfaction, especially in domains such as family relationships and leisure. These results highlight the importance of gender-sensitive retirement planning, with targeted support for men’s psychological adjustment to retirement.