South Korea's human rights watchdog announced Monday that it has recommended the government to raise the statutory retirement age from 60 to 65.

In the recommendation, the National Human Rights Commission of Korea(NHRCK) said that as South Korea enters an aging society, the relative poverty rate among the elderly is higher than in other OECD member countries, raising the need for institutional reforms to ensure a dignified life for older workers.

The NHRCK also noted the gap between the statutory retirement age of 60 and the age of 65 for receiving national pension benefits, which could result in potential income loss for older workers.

In order to avoid a possible decline in youth hiring resulting from the rise in retirement age, the commission recommends that the government implement wage support policies for older workers to ease the burden on both businesses and employees.