• Korean Journal of Social Welfare Studies
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• v.43 no.2
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• pp.61-85
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• 2012

The purpose of this study is to examine whether the national pension affects the life satisfaction of old age, using the first and third-wave data from the Korean Retirement and Income Study. The study analyzes the relationship between the national pension and life satisfaction, using several operational definitions of these two variables. This study utilizes the Difference-in-Difference(2D) models and panel data analysis. The main results are : First, the result of simple 2D shows that there is not significantly difference between the pensioner and that of non-pensioner. Second, the result of 2D regression also shows that pension is not significantly associated with life satisfaction of the old age. Lastly, the result of fixed-effect model confirms that the national pension does not have a statistically meaningful effect on the life satisfaction, controling for the unobserved characteristics of the old age. This study also conducts sensitivity analysis and discusses policy implications.

• Korean Journal of Social Welfare
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• v.37
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• pp.89-118
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• 1999

The goal of this paper is to define the distinguishing characteristics of Korea's National Pension Scheme compared to the National Pension types of other countries and sees if those characteristics are significant enough in order to warrant calling these the "Korean Model". Also, another point to consider is, if this "Korean Model" does indeed exist, whether it is a 'sustainable' model or not. The National Pension Scheme, which was implemented in 1988, is similar to the public pension system formerly used in Japan. The National Pension Scheme broke away from this 'Japanese Model' in 1995 with implementation of the Farmers and Fishermen Pension, and the unique "Korean Model National Pension" was completed in 1998 with revision of the National Pension Law. The characteristics of the Korean National Pension can be defined as being balanced equally on ability and equality, possessing strong intergenerational income redistribution, having a nationally integrated structure, an incomplete funded method financial neutralism of the government and also as being a Monroe-oriented pension system. There are several limits to the sustainable development of this Korean Model National Pension, though. Even though the precondition of "the income determination problem of self-employed persons", which has strong intra-generational income redistribution. in actuality there are still many policy issues to be confronted such as the structure which 'transfers the burden to the future generation', the 'inter-generational inequity' of the incomplete funded system, persons excluded from coverage under the national integrated structure, 'compulsory loaning of the public sector by the National Pension Fund' under the government's principle of finance neutralism, the separate existence of the 'Monroe-oriented National Pension' from other pensions, etc.,. Therefore, it need to reform of NPS once again to sustainable development of KMNP.

• Review of Korea Contents Association
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• v.12 no.3
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• pp.50-54
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• 2014

• Journal of Digital Convergence
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• v.11 no.3
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• pp.1-12
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• 2013

Present study examines the gender disparity in terms of its beneficiaries or benefit amount of National Pension of South Korea from the perspective of gender sensitivity. National Pension system has been manipulated and developed in order to maximize its universality. However, substantial gender differences are still found in terms of beneficiary number and benefit amount in the program. Benefit condition and benefit structure are determined assuming that male is the primary breadwinner in household and the primary regular full time worker in labor market. Women are only counted as dependents or excluded as unstable workers. As a result, women are fully or partially excluded from the program as they are excluded in other public sector such as labor market. Women's work (such as caring and housekeeping) are not taken into account in National Pension program. Policy suggestions for the National Pension of South Korea are also provided as the last part of this paper.

• 한국노년학
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• v.40 no.1
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• pp.1-21
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• 2020

The purpose of this study is to examine that basic pension entitlement affects the subjective well-being(SWB) of the elderly. For controlling unobserved heterogeneity, we used fixed effects model for longitudinal data. The data used for this study is KLoSA from 2006 to 2016. The research results are as follows. SWB of non-basic pensioners was higher than for basic pension beneficiaries. Second, when the demographic variables were controlled, SWB of the basic pension recipients was higher then that of non-beneficiaries. Third, the factors affecting SWB were economic satisfaction, marital status, family financial support, employment status, subjective health status, daily life restrictions, gender, and age. Fourth, the effect of basic pension on SWB was positive at the lowest income quartile. The results of this study shows that the basic pension system has a positive effect on the SWB of elderly despite the low benefit level. Therefore, it is necessary to expand the basic pension system to solve poverty problems and improve the quality of life for the aged. Also, various aspects of social support for the low-income vulnerable elderly are needed. Lastly, It was suggested that the benefit level of the basic pension should be raised to have a substantial effect on the low-income class, which is a key policy subject.

• Korea Real Estate Review
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• v.28 no.3
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• pp.53-64
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• 2018

OECD countries have been stimulating private pensions instead of public pensions because the financial stability of public pensions has been threatened by the aging population. Korea, which has the fastest aging population in the world, has been following the recommended policies of major countries. Unlike major economies, however, most of Korea's household assets are composed of real estate assets. Due to the economic and social importance of real estate assets in Korea, the wealth effect of real estate has been used as a major tool in macroeconomic policy. This study analyzed the effect of real estate value changes on the contribution of private pensions (personal pension + retirement pension). Utilizing a two-way, fixed effect model with the balanced panel data of the National Survey of Tax and Benefit, empirical results presented that the private pension contribution increased by 0.171% when the value of real estate increased by 1%. Thus, real estate value changes were analyzed as positive for retirement preparation through private pension. These results suggested that if the real estate market would shrink in the future, consumption would decrease, and the degree of preparation for retirement might be smaller.

• Korean Journal of Social Welfare
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• v.62 no.2
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• pp.329-348
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• 2010

Following the welfare state typology well known, the typology in terms of individual system in welfare state has been widely examined and, pension which is the biggest and most important in welfare state has been classified into Beveridge and Bismarckian types based on their pension system design. Such typology focused on benefit type or size of private pension has been recently refined to add a new type - 'Bismarckian Lite' type - in addition to traditional Beveridge and Bismarckian types. Whereas the pension reforms in the developed countries has been changes within their pension regimes, the Korean pension reform in 2007 seems to have changed the existing social insurance type into the 'Bismarckian Lite' type. However, considering the immaturity of Korean pension regime, it is difficult to conclude the existing status of the Korean pension regime and, the Korean one can be classified into a multi-pillar one. Over the last decades the developed countries have increased the size of private pension regardless of their original pension regimes, which tends to converge into multi-pillar schemes. Accordingly, there is recently a new typology focused on the degree of regulation in terms of private pensions, which seems to be the better perspective. It will be more important how to regulate the (immature) occupational pension as well as the National Pension in Korea. Considering that old age income security in countries where the public regulation regarding private pension was absent has been deteriorated, it would be necessary to strengthen the role of government to effectively regulate private pension.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2007.12a
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• pp.43-45
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• 2007

The International Labour Organization adopted the Maritime Labour Convention, 2006 on 23 February 2006. This convention contains the regulation about social security for seafarers in the Tittle 4. For the purpose of ratifying this Convention in our country, it is necessary to examine the domestic law and regulation concerned whether it fulfills or not the required conditions of the Convention Therefore, this paper aims to find the difference between the domestic law and the convention, also suggest the way to solve the problems.

• Industry Promotion Research
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• v.5 no.1
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• pp.125-135
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• 2020

This study is to suggest a social welfare policy to overcome the exclusion from the three sectors of economic life, income, labor market, housing, etc., which are the most important items of the welfare of the elderly in the life cycle. The results are as follows. First, income security policies should be comprehensively established and implemented. National institutional guarantees such as national pensions, basic pensions, and national basic living security should be sufficient. Second, housing policy must be reasonably improved. Since housing is a problem for the elderly, policies that suit the taste of the elderly should be effectively established and executed. Third, national and social agreement is needed. Geriatric welfare policies basically require social consensus. In conclusion, measures to overcome the economic exclusion of the elderly should be sought comprehensively in the long-term and various fields. There must also be an explicit agreement from the members of the society. a social welfare policy to overcome from economic exclusion should find ways to overcome the elderly's right to life.

• Journal of Digital Convergence
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• v.16 no.7
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• pp.63-69
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• 2018

This study is to examine the determinants of the elderly poverty by using the Decision-tree analysis. In line with this perspective, this study includes individual characteristics, family characteristics, working characteristics, and periodic income characteristics after retirement as determinants for senior poverty. The study uses data from the Korean Retirement and Income Study based on panel survey and employs the Decision-tree analysis to explain the causes of the elderly poverty. As the result of analysis, earned wage has the greatest effect on the elderly poverty. Depending on status of the earned wage, there are 2 different variable groups. One with no earned wage includes public pension, education, and residence, paid employee and gender in the other with earned wage. Based on the analytical results, the study suggests measures to address the elderly poverty.