• The Korean Journal of Applied Statistics
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• v.28 no.4
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• pp.621-641
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• 2015

Benefit-cost ratios are estimated using life-expectancies of the national pension old-age pensioners in Korea and a compared to whole nation. To obtain the ratios, future mortalities are estimated by multiplying the ratios of experienced mortalities for old-age pensioners to those of the whole nation and the future mortalities of the whole nation projected on an expanded CBD model. The results indicate that the life expectancies of old-age pensioners are longer than the whole nation that lead to higher benefit-cost ratios for old-age pensioners.

• The Korean Journal of Applied Statistics
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• v.27 no.2
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• pp.211-226
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• 2014

This paper discusses life expectancy differentials of beneficiaries of national pension old-age benefit and benefit-cost analysis in Korea. These results are useful indicators for the assessment of retirement income security of beneficiaries and old-age benefits. This paper analyzes benefit-cost ratio, internal rate of return and generation transfer amount, using life tables by lifetime incomes. The result of the actuarial analysis for male life expectancy is approximately 21.69 to 24.63 years. The result of the actuarial analysis for female life expectancy is approximately 27.63 to 29.81 years. The result of the actuarial analysis of low income level is that the benefit-cost ratio is lower approximately 2.68 to 4.83%, the internal rate of return lower approximately 0.00 to 0.74%, the generation transfer amount lower approximately 3.00 to 5.74%, than total income level. The result of the actuarial analysis of high income level is that the benefit-cost ratio is higher approximately 2.07 to 4.98%, the internal rate of return higher approximately 0.03 to 1.73%, the generation transfer amount higher approximately 2.53 to 9.68%, than the total income level. The results by income varies due to the effect of income redistribution and life expectancy on the national pension.

• Journal of Digital Convergence
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• v.17 no.5
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• pp.77-88
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• 2019

This study is empirically intended to look into the effects of basic income security on poverty elimination and life independence in income security policies. To achieve this, poverty elimination and life independence through the national pension and basic pension as old-age pension for basic income security and the unemployment benefit and livelihood benefit as employment insurance were determined as dependent variables. The 10th data from Korea Welfare Panel Study were used in the statistical package program to analyze these variables. The overall findings showed that the national pension and basic pension as part of the old-age pension had a positive effect on poverty elimination and life independence. The unemployment benefit and livelihood benefit of employment insurance were not significant and they were rejected. And poverty elimination had a significant effect on life independence and it was adopted. Consequently, the old-age pension is a pensionable income security policy given to all the elderly with lower income, which it is very useful for guaranteeing a basic income. Poverty elimination leads to life independence through the guarantee of a certain basic income, suggesting that they are closely related to each other.

• Korean Journal of Social Welfare
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• v.53
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• pp.285-310
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• 2003

As National Pension Scheme for all nation complete in 1999 through expanding application in cities, the public pension including Public Occupational Pension became main axis of old-age income maintenance. After 4years since then, now, it is only half of total National Pension insured persons who have been qualified to receive pension through participate and contribution. The other half of National Pension insured is left the excluded from public pension. This paper is intended to identify scale and characteristics of the excluded from public pension and to analysis its cause, and to explore policy measures for solving the excluded's problem. for current recipients over 60 years old generation, the its excluded's scale is no less than 86% of the old over 60 years. The probability of getting in the excluded is high in case of old elderly and female for current elderly generation. For future recipients 18-59 years working generation, the its excluded's scale is no less than 61% of the 18-59 years total population. The probability of getting in the excluded is high in case of 18-29 years and female for current working generation. As logistic regression analysis determinant factor of paying or not pension contribution for future recipients, it appear that probability of getting in the excluded for current working generation is high in case of younger old, lower education attainment, irregular employee, working at agriculture forestry fishery sector, construction sector, wholesale retail trade restaurants hotels sector, financial institution and insurance real estate renting and leasing sector in comparison with manufacturing sector, occpaying at elementary occupation, professionals technicians and associate professionals, sale and service workers, plant machine operators and assemblers, legislators senior officials and managers in comparison with clerks. The Policy measures for the current recipient old generation have need to reinforce supplemental role of Senior's pension(non-contribution pension) until maturing of public pension, because of no having chance of public pension participants for them. And the Policy measures for the future recipient working generation have need to restructure social security fundamentally corresponding with social-economic change as labour market and family structure etc. The pension system has need to change from one earner one pension to one citizen one pension with citizenship rights. At this point, public pension have need to manage with combining insurance's contribution principle and citizenship principle financing by taxes. Then public pension will become substantially universal social network for old-age income maintenance and we can find real solution for the excluded from.

• Korean Journal of Social Welfare
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• v.50
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• pp.235-263
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• 2002

The present study is designed to explore restructuring direction of the old-age income maintenance system and development direction of the Seniority Pension Scheme(SPS) in Korea. While the SPS is trifling scheme with tiny benefit amount and small budget, the SPS has important role that function as only public income maintenance scheme for both the low income class and the excluded from public pension and public assistance at present stage because of immature National Pension. This study starts with the research question why serious mis-matching problem between needs and resources in old-age income maintenance system occur. Thus this study explores fundamental change direction of the old-age income maintenance system which is coincide with further situation change(demography, labour market, family structure). Also this study explores desirable SPS's development direction as taking into account relation with other public old-age income maintenance system. This paper suggests basic direction of old-age income maintenance system as follows: principle of universal and individual security; principle of sustainability; principle of equity. Under general principle, this paper also proposes largely two development scenario of the SPS. The one is to maintain present transitional and provisional scheme with trying scheme's substantiality. The other is to change into permanent old-age income maintenance scheme for the excluded public pension and public assistance. At this point it is the public pension's role that the SPS's development direction is determined. If the public pension keep one pension per one earner as present system, non-contribution pension as present SPS should maintain continuously. However, if the public pension reorganize into basic pension of one pension per one person and earning-related pension, the SPS should be managed temporarily until mature of public pension. Therefore whether the public pension play basic security role for all elderly or not will determine the SPS development direction.

• Korea journal of population studies
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• v.24 no.1
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• pp.149-182
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• 2001

Due to the sustained increase in lifts expectancy, the number and proportion of the aged population has substantially increased, the proportion of the total population aged 65 and over was 7.1% in 2000 and 14.3% in 2022. But All public pension schemes in Korea, including the National Pension scheme, civil servants pension scheme, private school teachers pension scheme and the military pension scheme, are facing valving degree of financial problems at present because of their weak and unstable financial bases. with the result that some of them have recorded deficits for some time and the others are expected to run deficits in the near future. This crisis in financial sustainability in public pension schemes is attributable to the structural weakness of the schemes which can be characterized as high benefits, low contribution. Therefore, this article focuses on alternative of public pension schemes reform in Korea. The results is as follows. First, a basic pension is proposed to be newly established and the earnings related portion of National Pension Scheme will be as national pension. Secondly, the Basic Pension is a universal basic pension covering all nationals over 18 years and older, thereby achieving \"one pension for everybody\" Thirdly, National Pension will be operated as an earnings related pension covering only those participants with assessed income. Fourth1y, the current participants of public occupational pensions will also join the Basic Pension as well as the public occupational pensions whose scope of works will be reduced. And finally, The conversion of Retirement Allocation Scheme into a corporate pension should be left to the discretion of the company concerned.

• Journal of the Korean hospital association
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• v.36 no.1 s.305
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• pp.6-8
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• 2007

• 보건세계
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• v.55 no.2
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• pp.24-25
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• 2008

• 한국사회정책
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• v.19 no.3
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• pp.247-281
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• 2012

This study investigates issues, which the current disability benefit of the national pension Scheme is facing, and seeks improvements concerning the universalism of coverage, the adequacy of benefit levels, and the equity of institution. The low universalism problem is caused by the coverage deficits and the strict disability assessment system of NPS and can be overcome by widening the disability category and changing the disability assessment system to workability test. In addition, the benefit level of the disability pension will be reduced stronger than the old age benefit in the long. The low benefit level due to the short contribution period and the low disbursement rate and can be improved by the enhancement of the standard contribution years and the disbursement rate. On the other hand, the main reason of the equality problem can be seen as the requirements for benefit, which are applied differently depending on the membership status. As policy measures, the unification of requirement on the basis of a recent payment, a payment in a certain percentage of life, or a hybrid of both criteria is investigated.

• The Journal of the Korea Contents Association
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• v.18 no.5
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• pp.256-264
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• 2018

This study performed statistical matching using population census microdata and financial panel data. It generated the national basic data for simulation including income and property. Using this data the basic old-age pension, which is one of the biggest benefits, simulation was performed by applying the micro simulation methodology. In addition, we verified the coherence of the analysis results by comparing simulation basic data and financial panel data, basic old-age pension pilot simulation analysis results and basic old&-age pension actual beneficiary data.