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http://dx.doi.org/10.15207/JKCS.2021.12.1.267

Poverty Reduction in Elderly Household Types: The Impact of Basic Pension  

Kim, Anna (Department of Social Welfare, Daegu Catholic University)
Publication Information
Journal of the Korea Convergence Society / v.12, no.1, 2021 , pp. 267-274 More about this Journal
Abstract
This paper examines the impact of the Basic Pension scheme in terms of poverty reduction and income distribution among elderly households by focusing on the differences in the household type. It compares the data before (2013) and after (2016, 2019) the introduction of Basic Pension by using Household Income and Expenditure Survey data. Empirical analyses indicate that, first, the overall income and the public income transfer of the elderly households increased during the period compared. Second, the poverty rate was considerably higher for the elderly living alone than for other household types. The government policy led to poverty-reduction for all types of elderly households, wherein the effect was most profound in the case of elderly living with spouse. Third, income distribution improved for all types of elderly households, though maximum margin was observed in the case of the elderly living alone. Fourth, according to the multivariate logit regression, the Basic Pension had a positive impact on reducing the risk of poverty (defined as below 40% of median income) among the elderly households.
Keywords
Basic pension; Elderly household type; Poverty reduction; Income distribution improvement; Household Income and Expenditure Survey;
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