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KMID : 1124020050210020077
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Korean Social Security Studies
2005 Volume.21 No. 2 p.77 ~ p.104
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An Analysis on Poverty Reduction Effects of Public Pension Regimes
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Hong Kyung-Zoon
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Abstract
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There is nearly universal agreement in today that it is the responsibility of national governments to provide old age pension for the sake of old age income security. In this context, most governments have public pension programs. Despite this commonalities, there is striking diversity among countries in how systems of public pension are organized. Systems of public pension vary in the relative importance of public programs, the number of public programs, the degree to which benefits are tied to contributions associated with paid labor, and in many other ways. Focusing on public pension regimes which are classified with the types of pension programs, this study analyses on the antipoverty effectiveness of 8 countries` public pension regimes using US database. The result shows that different public pension regimes produce very different anti-poverty results. The less spending budgets and the more targeting benefits at the poor results in higher poverty rates. But, a country like Canada has a very efficient pension regime which produce a low poverty rate for a modest level of spending. Therefore, Korean government can learn much from the successes of other nations in providing an adequate income in old age, perhaps especially from Canada.
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KEYWORD
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Elder poverty, Public pension regime, Budget spending, Benefit targeting
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