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KMID : 1023720120580010007
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Journal of Welfare for the Aged
2012 Volume.58 No. 1 p.7 ~ p.28
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The Effects of Korean Old-age Income Security System on Poverty Reduction and Coverage
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Shon Byong-Don
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Abstract
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This study aims at analysing how much Korean old-age income security system decreases the elderly poverty and covers the aged. In order to achieve these purpose, this study uses 4th wave panel data from KWPS(Korean Welfare Panel Study). The major findings are as follows. First, The Korean old-age income security system partially reduces the elderly poverty, but its effects are limited. As a result, after old-age income security, the elderly poverty rates are still high. Second, the public pension programs of old-age income security programs contribute most to poverty reduction of the elderly. However, there are too many elderly people that do not receive public pension. Third, the Basic Old-age Pension System significantly diminished the gap for old-age income security, but did not significantly reduce the elderly poverty. Fourth, the National Basic Livelihood Security does not function as a last resort for the elderly in Korea. Many poor elderly people are excluded from it by the family obligation capacity rule.
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KEYWORD
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Old-age Income Security System, Basic Old-age Pension System, Public Pension, National Basic Livelihood Security, elderly poverty
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