• The Korean Journal of Applied Statistics
• /
• v.28 no.4
• /
• pp.593-601
• /
• 2015

We summarize the twelve papers carefully selected for aging, pensions, and related issues, The twelve novel papers are grouped into three categories: sustainability, adequacy, pension reforms. In particular, these twelve papers include depth and extensive discussions for national pension system and present the direction of the various pension reforms. It will be a great help to policy makers and researchers.

• Journal of the Korean Data and Information Science Society
• /
• v.19 no.3
• /
• pp.735-749
• /
• 2008

This article suggests application of logit model for analysis of multicategory responses. Referring to the reference category, characteristic of each category is obtained from analysis of polytomous logit model. With National Pension data it is illustrated that application of logit model helps it possible to find significant factors which may not be found only with polytomous logit model. Application of the logit model is done by reducing the number of categories. Categories are grouped into the former and the latter group according to reference category. Extra finding of significant factor was possible from logistic regression analysis for the two groups after removing the reference category. It is expected that this application would be helpful for finding information and characteristics on ordered multicategory responses where the proportional odds model does not fit.

• The Korean Journal of Health Service Management
• /
• v.14 no.1
• /
• pp.123-136
• /
• 2020

Objectives: This study aimed to analyze the factors influencing the life satisfaction of retirees(n=1,919) in one-person and multi-person households using the 2015 wave of the Korean Retirement and Income Study, collected by the National Pension Service. Methods: Frequency analysis and χ2-test were performed to examine the general characteristics and relation between one-person and multi-person household retirees. Logistic analysis was conducted to examine the factors affecting life satisfaction. Results: Public pension income was a statistically significant factor affecting life satisfaction, economic, health, and life in multi-person households. Conclusions: To improve life satisfaction after retirement, selective insurance benefits are needed depending on the type of household. Moreover a policy for expanding labor market participation is needed.

• KDI Journal of Economic Policy
• /
• v.41 no.2
• /
• pp.41-58
• /
• 2019

Health capacity to work for the elderly is an essential piece of information for designing social policies in an aging society. Here, we assess the health capacity to work of older men in South Korea and provide a cross-country comparison. Following the methodology proposed by Milligan and Wise (2012), which uses the cohort mortality rate as a proxy for overall health status, we quantify the additional employment capacity of current older men in reference to the mortality-employment relationship of a generation ago. Despite the high employment rate of older men in South Korea, we find substantial additional employment capacity among older men (those aged 55 or more) as of 2016 comparable in size to those found in other advanced countries. We also find evidence that older men are not merely capable of working but are also willing to work, and many of them are increasingly combining pension income and work. These findings suggest that labor supply disincentives for older men embedded in public pension systems in South Korea need to be thoroughly reexamined and adjusted accordingly lest they should inhibit the labor supply of older workers.

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

• The Korean Journal of Applied Statistics
• /
• v.28 no.4
• /
• pp.807-826
• /
• 2015

Generational contracts are specified into public pensions based on generational solidarity. The Korean National Pension has been reformed with a focus on generational equity with a narrow meaning related to contribution rate and benefit level. As a result, the Korean National Pension has only emphasized generational equity and not contributed to generational solidarity. We investigate changes in the content of the generational contract and propose to reconstruct generational contract to contribute to solidarity with a more comprehensive perspective. A new social contract by reformed pension system should not concentrate on narrowed generational equity. It should be reconstructed in the direction of enhancing efficacy and the stability of generational solidarity with an emphasis on social sustainability. Investment into the next generation would be one of many policy measures to decrease conflicts around intergenerational redistribution and improve the financial stability of the public pension by creating population structure and labor market changes.

• Journal of the Korean Data and Information Science Society
• /
• v.27 no.2
• /
• pp.437-449
• /
• 2016

This study empirically analyzes casual relationships among psychological and financial factors influencing the subscription of individual pension and identifies mediation effect by the structural equation model. The analysis based on survey data (N=928) from common people living in the seven major cities in Korea shows that potential longevity, coping efficacy to the financial risks from longevity, subjective knowledge on longevity (cognitive factor), trust in insurers (social factor), and financial literacy(financial factor) are key players exercising direct influence over the subscription of individual pension. It also has been shown that affect on longevity, potential longevity, trust in government, and coping efficacy influence the emotions on longevity, fear and worry, and emotions on longevity are not significant in explaining the subscription of individual pension. Trust in insurers and financial knowledge of prospects have also been reaffirmed to be crucial factors in the activation of individual pension subscription.

• Journal of Family Resource Management and Policy Review
• /
• v.17 no.4
• /
• pp.189-213
• /
• 2013

The purpose of this work is to explore different types of intergenerational relationships in the later lives of old retirees. This will be done according to the eligibility of public pension and the old age social security system so that the factors affecting intergenerational relationships can be analyzed, and to propose a plan to improve social adaptation in later life. The data used in this work are the Fourth basic survey data of the 2011 Korea Retirement and Income Study. The study subjects of this work were 2,435 retirees over age 65 who had children. In this study, latent class analysis and logistic regression analysis were conducted to classify types of intergenerational relationships and to analyze the influence of relevant factors. As a result of the analysis, some of those in the group were eligible for public pension, and the ones who were not were classified into three types: the closely-living-together type, the separate-living-contact type, and the estrangement type. In the group not eligible for public pension, it was found that age, spouse, number of children, economic factors, and level of health satisfaction gave significant power to intergenerational relationships. In the group eligible for public pension, it was found that age, income and net assets, ADL(Activities of Daily Living), whether there was an IADL(Instrumental Activities of Daily Living) spouse, and number of children affected types of intergenerational relationships; Socio-demographic factors, economic factors, and healthy factors became significant variables according to the classified types of intergenerational relationship. Based on the study results, this work suggested such necessities to lay the foundation for an elderly welfare system for social adaptation in later life, This includes the offering of programs for retirement preparation, the use of family and local society resources, and expansion of the opportunity to participate in social activities.

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

• Journal of the Korean Data and Information Science Society
• /
• v.25 no.6
• /
• pp.1315-1331
• /
• 2014

Replacement rates which shows the ratio of retirement income relative to preretirement income is used for a valuable evaluation measures while discussing social security benefit levels or the adequacy of retirement income. However, replacement rates has been only used for an index for evaluating benefit level at the time of retirement or specific retirement period in advanced research projects. This article analyzes how much the uncertainty of survival has an influence on retirement income, and shows replacement rates in conformity with the period of survival as an index. The researchers named this index lifetime income replacement rates. Analysis based on this index shows both life replacement income rates of 38.3% in men's case and of 41.1% in women's case while enrolled for 20years in three pension plans - national pension, retirement pension and individual annuity.