|
KMID : 0379220200400010001
|
|
Journal of Korea Gerontological Society
2020 Volume.40 No. 1 p.1 ~ p.21
|
|
|
The Study on the Effect of Basic Pension on Subjective Well-being of the Elderly
|
|
Kim Hye-Youn
|
|
|
Abstract
|
|
|
|
The purpose of this study is to examine that basic pension entitlement affects the subjective well-being(SWB) of the elderly. For controlling unobserved heterogeneity, we used fixed effects model for longitudinal data. The data used for this study is KLoSA from 2006 to 2016. The research results are as follows. SWB of non-basic pensioners was higher than for basic pension beneficiaries. Second, when the demographic variables were controlled, SWB of the basic pension recipients was higher then that of non-beneficiaries. Third, the factors affecting SWB were economic satisfaction, marital status, family financial support, employment status, subjective health status, daily life restrictions, gender, and age. Fourth, the effect of basic pension on SWB was positive at the lowest income quartile. The results of this study shows that the basic pension system has a positive effect on the SWB of elderly despite the low benefit level. Therefore, it is necessary to expand the basic pension system to solve poverty problems and improve the quality of life for the aged. Also, various aspects of social support for the low-income vulnerable elderly are needed. Lastly, It was suggested that the benefit level of the basic pension should be raised to have a substantial effect on the low-income class, which is a key policy subject.
|
|
|
KEYWORD
|
|
|
Basic pension, subjective Well-being, elderly, panel analysis, fixed effect model
|
|
|
FullTexts / Linksout information
|
|
|
|
|
|
Listed journal information
|
|
|
|