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KMID : 1124020090250040161
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Korean Social Security Studies
2009 Volume.25 No. 4 p.161 ~ p.186
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Properties and Determinants of Trust in the National Pension Scheme in Korea
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Back Hwa-Jong
Woo Hae-Bong
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Abstract
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This study investigates the properties and determinants of trust in the National Pension Scheme(NPS) in Korea and offers implications for improving the trust among insured persons. The results show the importance of national pension fund management in explaining the level of trust in the NPS, regardless of the pension status among respondents. The data also show that trust increases with the extent of understanding the NPS, which is primarily influenced by the importance of the NPS in old-age income security. Overall, the results indicate that pension reform needs to pay more attention to financial sustainability as well as adequate old-age income security. Further, providing systematic information on old-age income security may play an important role in enhancing the extent of understanding the NPS, which in turn builds trust in the NPS.
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KEYWORD
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National Pension Scheme, trust, old-age income security, financial sustainability
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