• 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.

• Analyses & Alternatives
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• v.2 no.2
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• pp.67-91
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• 2018

This study scrutinizes the necessity and cases of the public and pension cooperation and tries to present the way of construction of information infrastructure for the pension systems suitable for Korea. The developed countries have recently been focusing on strengthening the multi-pillar pension system, while pension education and information services have emerged as an important element of the pension cooperation. The frame of the multi-pillar-pension system in Korea has already been constructed, but it is not substantial. Especially bad information on the pension system has seriously hindered the consolidation of the pension system. In order to solve this problem, we analyzed cases of public-private cooperation systems in Iceland, New Zealand, Netherlands, and Sweden. In order to build a basic infrastructure for construction pension cooperation in Korea, it is necessary to promote information exchange and cooperation among pension organizations and to improve the pension portal of NPS 'My Pension'. In addition, this study suggests establishing an association of private and public pension schemes, which manages the integrated information and education of pension systems.

• Korean Journal of Social Welfare
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• v.46
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• pp.7-36
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• 2001

The current benefit expenditure of National Pension Scheme is comparatively small, as it stands in the early stage in reference to the historical development. On the other hand, the current contribution rate of National Pension is set up beyond which is sufficient to cover the current benefit expenditure. Therefore, National Pension makes big surplus every year such that the size of accumulated fund increases very fast. Nevertheless, the apprehension of financial instability of National Pension prevails these days. If so, is it really well-grounded? In terms of the method of financing. public pension schemes of most of all nations in the world are based on pay-as you go or partial funding. Under these financing methods, financial soundness fundamentally depends on the power that the government is able to impose the burden which is equivalent to benefit expenditure and the attitude of the public which represents whether they will admit it or not. Under this perspective, the judgement of financial soundness of public pension can not be made arithmetically and technically only on the basis of the balance between receipts and expenditure but should be accomplished considering the very complex and diverse aspects. In these context, this paper defines what the financial soundness of public pension means specifically and presents the objective indices which help judge it, that is, implicit debt, cost rate, summarized cost rate, pension expenditure as percentage of GDP, and fund rate. Then, applying the indices, this paper analyzes the long-term financial situation of National Pension empirically and evaluates its financial soundness in exploratory perspective.

• Journal of Wellbeing Management and Applied Psychology
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• v.7 no.1
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• pp.1-7
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• 2024

Purpose: The improvement of the social security system can greatly affect residents' future uncertainty, and it is important to study the relationship between public pensions and household consumption. Research design, data and methodology: Using the 2018 China Household Panel Survey (CFPS) data, the instrumental variable method is used to analyze the impact of pension insurance on urban residents' consumption. Results: The results of the study show that there are differences in the impact of three different pension insurance systems on household consumption. The pension insurance for public sector significantly boosts household consumption, and having a pension insurance for public sector can increase household consumption by 7.7%. The pension insurance for enterprise employee will reduce household consumption, but this is only significant for urban households. The pension insurance for urban and rural residents has a negative impact on household consumption. For the 16- to 39-year-old group, having a pension insurance for urban and rural residents will reduce household consumption by 5.7%. At the same time, household income, assets, scale, and education level will positively stimulate household consumption. Conclusions: The study reveals varying impacts among different pension types, highlighting the need for optimizing social security schemes to incentivize higher consumption rates.

• 한국사회정책
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• v.25 no.4
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• pp.301-321
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• 2018

The purpose of this paper is to analyze whether any combination of the quantitative and qualitative aspects of the public pension system is a causal factor for the elderly poverty reduction rate. For this, fuzzy-set qualitative comparison analysis was conducted with the poverty reduction rate as the outcome condition variable, the public pension expenditure ratio, the redistributive index, the first floor public pension weight, the second floor public pension weight and the second floor forced private pension weight did. As a result of the analysis, the combination of high public pension expenditure ratio, low two - tier public pension share and high two - tier compulsory private pension share has become a cause of high poverty reduction rate of the elderly. And more various forms of association were found as the cause of low poverty reduction rate of the elderly. This paper suggests policy proposals based on the above findings.

• 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.10 no.1
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• pp.369-378
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• 2024

The aim of this study is to conduct a comparative study on the sustainability of the public pension. While the mainstream view on the sustainability of the public pension presupposes financial sustainability, the original purpose of guaranteeing retirement income has been overlooked. The sustainability of the public pension needs to consider not only financial sustainability, but also various factors such as demographic structure, labor productivity, industrial structure, life cycle of working households, government spending on public pensions, economic growth, and social consensus. With this awareness of the problem, this study conducted a fuzzy set qualitative comparative study in 44 countries, including Korea. As a result of the analysis, it was found that Korea had high financial sustainability for a single year, but relatively low integration related to social consultation and public pension operation, and adequacy such as the degree of guarantee and linkage with other pension systems was also relatively low. The sustainability of the broader public pension should be emphasized not only for financial sustainability, but also for adequacy and integration.

• 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.

• Journal of the Korean Home Economics Association
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• v.42 no.11
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• pp.205-222
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• 2004

The purposes of this study were to examine urban household's monthly expenses for public pension and to analyze the contributing factors. Data for this study were from the 2002 Urban Household Survey and consisted of a sample of 21,093 urban households. Statistics used for the analysis were frequencies, means, ANOVA and multiple regression analysis. The major findings were as follows ; First, the average urban household monthly payment for the public pension was 104,036 won, consisting of 102,757 won for single earner households and 106,014 won for dual earner households. Second, the highest expenses for monthly public pension was urban households, followed by male household head(HH), HH's age from 41-50 years, HH's educational level was college, HH's job was public servant, family didn't live in Seoul, family w3s an extended family and family owned the house. Third, the significant factors affecting the urban household's monthly public pension were HH's gender, age, educational level, type of job, region, type of family, number of children, type of earner, monthly total income, increase of asset in a month and house ownership.

• 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.