|
KMID : 1001320190460030341
|
|
Social Welfare Policy
2019 Volume.46 No. 3 p.341 ~ p.368
|
|
|
A Typology of Old-Age Income Security Strategies: Focusing on Major Income Security Schemes and Income Adequacy in Old-Ag
|
|
Lee Soon-A
|
|
|
Abstract
|
|
|
In this study, I analyzed the adequacy of old-age income and the role of major old-age income security systems in OECD countries using LIS data. In addition, I classified the country's old-age income guarantee systems into the adequacy of income and the characters of the main income guarantee system.
The analysis results are as follows. First, countries with high old-age income adequacy were Luxembourg, France and Poland, while those with low old-age income adequacy were South Korea, Taiwan and Mexico. Second, in many European countries, the level of old-age income security in the pension scheme was high. However, each country's contribution to the old-age income guarantee were very different. In most countries, the level of income security for public pension schemes was higher than for private pension schemes. In Finland and Netherlands, however, the private pension systems had a high level of guarantees. In countries where the private pension system has developed, the non-contributing pension system has played a relatively large role in guaranteeing old-age income. On the other hand, South Korea, Taiwan and Mexico were countries with low adequacy of old-age income. In these countries, the pension system's role in securing old-age income was insufficient, but the role of public assistance was relatively large. Third, as a result of the categorization of countries’ old-age income systems, I found six types. Among them, types 1, 3 and 4 were high adequacy of old-age income. In Type 1 countries, mainly old-age income was guaranteed by the public pension systems, especially the contribution pension scheme. In the case of Type 3, the level of income security for private pension systems is relatively higher, and the contribution pension system has a large role in public pensions. Type 4 showed higher old-age income adequacy than average, and the old-age income was guaranteed higher by the private pension systems and the non-contributing pension among public pension systems.
Other types (types 5, 6 and 8) were less adequacy of old-age income, and the role of old-age income guarantee systems was also very poor.
Based on the above results, the recommendations and research implications for strengthening old-age income security in Korean society were described.
|
|
|
KEYWORD
|
|
|
old age, income adequacy, income security, typology of old-age income security
|
|
|
FullTexts / Linksout information
|
|
|
|
|
|
Listed journal information
|
|
|
|