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KMID : 1001320160430010187
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Social Welfare Policy
2016 Volume.43 No. 1 p.187 ~ p.214
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The Psycho-social Effects of the Public Old-Age Pension: Are there Differences in the Psycho-social Effects by the Poverty Status?
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Lee Sang-Rok
Lee Soon-A
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Abstract
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Recently the Korean society has experience the faster population aging than any other countries, and so public pension become more important as an income maintenance scheme for the elderly in Korea. Even though the effects of the public pension on the economic behavior(savings, labor supply, household consumption expenditure) are widely known, there is little known about the psycho-social effects of the public pension on the life of the elderly. So in this study, we estimate such effects of the public pension income on the psychological state and social relationship in the elderly, especially differences in these effects by the poverty status. The data are obtained from the Korean Welfare Panel Study. For the analysis, this study utilized the multiple regression model and testing for parallelism. Results from the analyses show that there are significant psycho-social effects of the public pension among the elderly. And the psycho-social effects are much more to the poor elderly than non-poor elderly. Results of this study give new knowledges about psycho-social effects of the public pension in the elderly. And they suggest that public pension is important to the economic well-being but also psychological well-being of the elderly in aging society.
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KEYWORD
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public pension, old age, the elderly, psycho-social effects, poverty status
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