A survey shows that wage earners in South Korea retire at an average of 49-point-three years of age, and nearly half of them retire against their will before reaching the legal retirement age.

The statistic was contained in a report by Mirae Asset Investment and Pension Center released on Tuesday that analyzed retirement trends of the past decade.

Based on data from Statistics Korea covering the economically active population, the center found that for those surveyed between 55 and 64 years of age, the average retirement age was 49-point-three. Upon their retirement, they had worked for their final company for an average 12-point-eight years.

The actual retirement age has hovered around 49 years of age for the past ten years, far below the legal age of 60.

In the report, only nine-point-six percent of retirees left the workforce at legal retirement age. Involuntary retirements accounted for more than 41 percent. Reported reasons included getting laid off, being recommended to leave, or a closure of the workplace, either permanently or temporarily.
 
The center said the findings indicate a greater need to prepare for early retirement.