• The Journal of the Korea Contents Association
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• v.22 no.4
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• pp.314-323
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• 2022

This study examines the effecs of National Pension Service blockholders on accounting conservatism. The sample consists of 10,117 non-banking firm-years listed in Korea Stock Exchange(KOSPI) during the period 2011 to 2018. The results of this study are as follows. First, it was found that companies in which the National Pension Service as a major shareholder hold more than 5% of the shares are less prone to conservative accounting treatment than those that do not. Second, such a negative relationship between investment by the National Pension Service and conservative accounting was consistently found even when the investment period of the National Pension Service was divided into short-term (less than 1 year) and long-term (more than 3 years). It is expected that the National Pension Service, the largest institutional investor in Korea, will be able to carry out meaningful management control activities on investment companies. As the monitoring function of the National Pension Service works effectively in the capital market, agency costs are reduced, and investors' demands for corporate conservative accounting have decreased.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.329-342
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• 2021

Purpose - The purpose of this study is to analyze the effect of investment by the National Pension Service, which has a high share as a single fund, on the dividend payout ratio. Design/methodology/approach - This study secured a share through DART of the Financial Supervisory Service and disclosure of the National Pension Service. We also used a fixed-effects model and 2SLS to analyze the data. Findings - First, it was found that there was a possibility of conflicting interests among shareholders concerning the company's dividend payment policy. Second, in the range of 3% to 4.9% of the National Pension Service shareholding, an additional increase in the holding ratio was found to have a positive (+) effect on the dividend rate. Third, after the introduction of the Stewardship Code, it was found that the increase in ownership of the fund had a positive (+) effect on the company's dividend payout ratio, regardless of the share ratio range. Moreover, the relationship between the fund ownership and the dividend payout ratio showed a clear positive relationship when free cash flow was high along investment opportunities were low. Research implications or Originality - First, This study included less than 5% of the share in the analysis. Second, We used the recent changes in fund shareholder activities. Third, We tested an instrumental variable to confirm the relationship between the National Pension Service share and the dividend ratio.

• The Korean Journal of Health Service Management
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• v.10 no.3
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• pp.199-211
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• 2016

Objectives : This study compared the influencing factors on life satisfaction after retirement between public pension and specific corporate pension recipients. Methods : This study used the fifth year data of 2013 from the raw data of the Korean Retirement and Income Study collected by the National Pension Research Institute. The data analysis in this study was done with the chi-square test, t-test, and linear regression using SPSS ver. 22.0 to verify the relevance between the general characteristics of pension recipients. Results : This study shows that there was a difference in expenditures and health care costs between public pension and special corporate pension recipients. The influencing factors on life satisfaction for public pension recipients were the level of spending, whether there were limitations in daily life and social activity, whether recipients had financial assets and health care costs while for specific corporate pension recipients, they were education level, level of spending and chronic diseases. Conclusions : A health policy that maximizes life satisfaction and takes into account the type of pencion needs to be considered and implemented.

• Korean Journal of Social Welfare
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• v.67 no.1
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• pp.215-237
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• 2015

This paper aims to check the multi-pillar pension system in Korea. That is why, We analyzed the insured status of people in terms of multi-pillar pension system including National Pension Service, Private Pension, Retirement Pension over time. The main findings are as follows; firstly, the 'multi-pillar type'(27.7%), the 'public pension type'(12.8%) and the 'insecure type'(59.6%) have been formed. Secondly, any socio-demographic factors like labor market status, gender, age et cetera could not guarantee the pension right for multi-pillar system. As a result, we emphasize that including the 'insecure type' into public pension schemes is a prerequisite for establishing the multi-pillar pension system.

• 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.

• Health Policy and Management
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• v.25 no.2
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• pp.80-89
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• 2015

Background: This study aims to identify the monthly average medical expenses of public pension recipients, and analyze the determinants of total health and medical expenses and Western and Oriental medicine expenses, medical service expenses, and medical supplies expenses. Methods: This study used the fifth year data of 2013 out of the raw data of the Korean Retirement and Income Study collected by the National Pension Research Institute. This study conducted t-test, analysis of variance, and linear regression to verify publicly the relevance between pension recipients' general characteristics and health and medical expenses status using IBM SPSS ver. 21.0 for data analysis. Results: It was analyzed that there is a difference in the spending of expenditure and health care costs according to public pension recipients. Medical expenses of the national pensioners was higher compared to the special corporate pensioners. The national pensioner is related expenditure size, education level, family members living together, residential areas, status of spouse, number of chronic illness, and status of limitation in daily life with psychological health status. Conclusion: Therefore, fairness does not occur fire to the medical use between the special corporate pensioners and national pensioners, aggressive of government such as health policy and financial support for the retiree pension policy that reflects the reality intervention would be required.

• The Journal of the Convergence on Culture Technology
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• v.4 no.3
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• pp.139-147
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• 2018

This study starts with the consciousness of what should be the public pension service that meets the 4th Industrial Revolution era. To do this, we review the current status of non-facing services of domestic and foreign public institutions, and draw out implications for revitalizing non-facing services of the National Pension over the medium to long term. First, we reviewed the status of non-face-to-face service and the authentication method of the National Pension Service. Next, we reviewed the status of non-facing services in public pension and private agencies in the United States, the United Kingdom, Canada, and Australia. Based on the results of the analysis, we needs to analyze the impact of the 4th Industrial Revolution on the National Pension Service and extract future strategies, to expand channels of non-facing by business, to introduce PinTech as a non-facing authentication method, and to propose a unified service channel through the construction of an internet integrated portal. In the 4th industrial revolution era, it is possible to secure the connectivity of government portal for civil affairs and intelligence and automation introducing artificial intelligence robots.

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

• Journal of Families and Better Life
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• v.26 no.3
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• pp.37-52
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• 2008

The purpose of this study was to provide the valid data about residential-linked pension insurance development. The development was a part of national housing projects, which was an incentive for rural living of retired people, in order to relieve residential issues of elderly and revitalize rural communities by residents moving from cities. The insuring intent, decisive insuring factors and the residential service demand degree of people preparing retirement were analyzed. Data was collected in October, 2007. 364 Sample Subjects lived in Seoul Metropolitan area. Firstly, more than 90% of respondents had intention to purchase a residential-linked pension insurance and about 50% of them necessarily desired receiving premium for moving in. This indicated that it could be developed as an insurance which helped to meet housing expenses by housing-linked system, and in the mean time, it met the original purpose of pension insurance as the pension benefit could be guaranteed for all the insurance subscribers. Secondly, the respondents, whose income and private assets were higher, were able to pay more for insurance compared to average. Therefore, It was necessary to regulate monthly insurance bill and the payment period according to asset states of insurance subscribers after establishing certain amount of total insurance payment. Thirdly, by and large, it indicated the tendency that the less they prepare for older age the later they wanted to move into the pension insurance residence. It was inferred that in the case of insufficient preparation for older age, people preferred preparing behind time by postponing move in to moving in early to enjoy retired life, due to uncertainties. lastly, the respondents understood the significance of health, medical treatment and emergency management service and these two services were preferred as essential provided services. Because of the necessity of developing residential-linked pension insurance was found to be positive, further research to find the real cost, directives for operation and institutional support for this type of pension insurance might be needed.

• Korean Journal of Family Social Work
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• no.60
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• pp.133-173
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• 2018

This paper analyzes the consistency and the discrepancy between system and practices of the old age pension(Nyunronyungeum) in North Korea. The literature review is conducted to analyze the system. Specifically, the North Korean law and North Korean dictionaries were carefully examined. The interviews with 25 North Korean refugees were conducted to grasp the exact state of the old age pension in North Korea. Major findings are as follows: the consistency between system and practices of the old age pension in North Korea is identified only certain portions of that. Beneficiaries(blue-collar workers, white-collar workers, farmers, soldiers, and employees in foreign-invested enterprises), contribution periods, earning-related schemes, the totalization of periods of coverage(workplace transitions), the absence of double benefits and early retirement pension, and the delivery system around Civic Service offices(Dong offices) are confirmed by complete consistency. Preservation age, variations in the implementation of the pension system by region, and premium of the old age pension are confirmed by partial consistency. The length of service, the labor regulation, lump-sum payment, and double dipping are confirmed by discrepancies. It's important that this study brings about a better understanding the old age pension in North Korea through various original texts of North Korea and interviews with refugees. The results of this study are expected to contribute to the policy production for the age income security system after the unification and to the spread of unification perspectives.