The Examination of Construction Status on Multi-pillar System for Old Age Income Security in Korea

한국 다층노후소득보장체계 구축양태의 경험적 검토

  • Received : 2014.12.31
  • Accepted : 2015.02.09
  • Published : 2015.02.28

Abstract

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.

Keywords

multi-pillar pension system;National Pension Service;private pension;retirement pension;old age income security