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KMID : 1001320170440020055
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Social Welfare Policy
2017 Volume.44 No. 2 p.55 ~ p.85
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A Study on the poverty line and the minimum benefit level of the elderly in Korea: from the perspective of intergenerational equity
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Seok Jae-Eun
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Abstract
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The poverty line is the level of income necessary for minimum living, and the minimum benefit level is the level of benefits that must be socially responsible for poverty alleviation. This paper aims to analyze the poverty line and the minimum benefit level of elderly people from the perspective of intergenerational equity. Especially it was considered that the age effect between the elderly and the working age group could lead to differences in poverty line, and the welfare institutional effect and the asset effect may cause a difference in the minimum benefit level. This paper suggests that it is necessary to divide the necessary consumption expenditure that constitutes the poverty line into the common consumption expenditure and the customized consumption expenditure. In addition, poverty needs to be distinguished from common needs poverty and individual needs poverty. This proposal is related to the need for a multidimensional approach to poverty. The main suggestions based on the analysis result are as follows. First, the poverty line of the elderly can be set at around 65% of the working age group. Second, Customized consumption expenditure areas should be approached in such a way as to meet the needs of each policy area. Third, when setting the poverty line and minimum benefit level, it is suggested that the adjusted poverty line along with the current standard poverty line be used in parallel.
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KEYWORD
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old age, poverty line, minimum benefit level, intergenerational equity, adjusted poverty line, multidimensional poverty
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