This study attempted to compare the old age income maintenance policies of 23 OECD countries, and based on the analyses of these policies, highlighted the implication for the reformulation of Korea’s old age income policies. Characteristics of the old age income maintenance policies of the OECD countries are the following. First, almost all OECD countries have social security programs for the elderly. 13 countries have social aid programs for the elderly which are supplementary to social security programs. Only 3 countries have allowance programs for the elderly. Secondly, the governments of OECD countries play active roles in the income maintenance of the elderly. Thirdly, the amount of benefits is determined by the needs of the elderly according to income, gender, age, and marital status.
The analyses of old age income maintenance policies of OECD countries indicate the following directions for the reformulation of Korean old age income maintenance policy. First, social security programs should be modified to include both flat-rate and earning-related benefits and in correspondence the contribution rates of employees and employers should be increased. Secondly, the old-age allowance(No-Ryung Sudang) should be extended from solely benefiting the elderly poor to include the lower middle class elderly as well. Finally, larger amounts should be given to the very old elderly and/or female elderly, and the allocation for the married elderly should not be double the amount a single elderly person receives.
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