|
KMID : 0613620200400030178
|
|
Health Social Welfare Review
2020 Volume.40 No. 3 p.178 ~ p.215
|
|
|
The Effects of Increase in the Basic Pension on the life Satisfaction of Elderly Beneficiaries in Korea
|
|
Hwang In-Uk
Lee Tae-Jin
|
|
|
Abstract
|
|
|
|
This study examined the relationship between increase in the Basic Pension and the life satisfaction using a quasi-experimental framework, in which the Basic Pension was deemed as an increase of existing non-contributory pension benefit. The results of Propensity Score Matched Difference-in-Differences (PSM-DID) analyses suggested that the common trend assumption was not violated and the life satisfaction (overall and in each domain) of the elderly who continually received the Basic Pension around the time of increase (treatment group) increased by 3.72~5.14 points compared to that of those who never received the benefit (control group). The sub-group analyses suggested that increase in the Basic Pension improved the life satisfaction of the treatment group relatively more among those who did not receive other public pensions, did not work for pay, were women, or were aged 75 and older. Given the Basic Pension policy direction of benefit increase in Korea, these study results are expected to provide meaningful empirical evidences for future policy implementations.
|
|
|
KEYWORD
|
|
|
Old Age Income Security, Basic Pension, Subjective Well-Being, Life Satisfaction, Difference-in-Differences
|
|
|
FullTexts / Linksout information
|
|
|
|
|
|
Listed journal information
|
|
|