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KMID : 1124020130290020001
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Korean Social Security Studies
2013 Volume.29 No. 2 p.1 ~ p.25
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Review and outlook on proposal of the presidential transition team on introduction of a basic pension scheme
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Lee Yong-Ha
Kim Won-Sub
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Abstract
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The study analyses the pension policy of new government in S. Korea that aims to convert the basic Old-Age Pension to a universal basic pension from July 2014. The study consists of the following topics, including characteristics & types of the basic pension, similarities and differences between current basic Old-Age Pension and basic Pension, rationales for a basic pension in Korea, framework of the basic pension scheme proposed by new government, effects and issues of the proposal. This suggests that the proposed reform scheme can represent itself as the best option when we consider social economic environments unique to Korea. Finally, it should be noted that, given high old-age poverty rate and low take-up rate of National Pension scheme even in the future, pension policy of new government is effective to protect old age poverty both at present and even at the mature stage of the National Pension.
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KEYWORD
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old-age security, basic pension, national pension
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