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KMID : 1023720170720010283
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Journal of Welfare for the Aged
2017 Volume.72 No. 1 p.283 ~ p.303
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The Effects of its Proportions of Different Sources of Old Age Income on Older People`s Happiness
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Chun Mi-Ae
Kim Jung-Hyun
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Abstract
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This study investigated the effects of its proportions of different sources of old age income in the annual family income on older people`s happiness based on the Self-determination theory. We applied the multiple regression model to the sample of 3,276 individuals older than 65 and living separately from their offsprings from the 5th wave (2014) of Korean Longitudinal Study of Aging (KLoSA). The different income sources were categorized as the ratio of public transfer, private transfer, and self-earned in the annual family income; the ratio of public transfer income were considered as social insurance excluding basic pension, and basic livelihood security payment due to the differences in the characteristic features of public transfer. We controlled for age, gender, education level, marital status, subjective health, annual family income, basic livelihood security payment, and income by the different income sources. The results showed that higher proportions of social insurance and private transfer increased the happiness of older persons. On the contrary, a higher the proportion of self-earned income decreased the happiness of older persons. In addition, it was confirmed that higher annual family income and better health status, having spouse, higher level of education, not receiving basic livelihood security payment increased the happiness of older persons. Lastly, theoretical and practical implications were suggested for this study.
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KEYWORD
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old age income, income source, proportions of income source, happiness
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