• Title/Summary/Keyword: earnings replacement ratio

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Income Level Necessary for Old-age Living by Income Status (노령계층의 소득계층별 필요소득수준 연구)

  • 석재은
    • Korea journal of population studies
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    • v.26 no.1
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    • pp.79-113
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    • 2003
  • This study is intended to explore an income level necessart for the old-age by income Status. Firstly, it is verified whether there is significant difference between old-age and working age or not. Secondly, if their difference is found, it will be identified that it is determined by certain factors. Thirdly, it is brought out needful income level for the old-age living through analysing old-age consumption expenditure level over working age. The results in this research are as follows. Firstly, there is a significant difference between old-age and working age. Secondly, the major factors which generated difference between old-age and working age consumption expenditure are income, household size, and age. Thirdly, the income level necessary for oldage living is on average 61 %. By income status, it is 90-100% for low income status, 60-70% for middle income status, 50-60% for high income status.