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KMID : 1124020160320010033
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Korean Social Security Studies
2016 Volume.32 No. 1 p.33 ~ p.55
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The Impact of Precarious Work on the Old Age Income Security from the National Pension: Using a Dynamic Micro-simulation Model
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Shin Woo-Jin
Kwon Kyuk-Jin
Ryu Jae-Rin
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Abstract
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This study examines the long-term prospects for the impact of precarious work on Old Age Income Security from the national pension by using a dynamic micro-simulation model. The main results are as follows: First, a group of workers in more precarious work was found to have a higher proportion of people who does not receive old-age pension, and the proportion will be reduced in the long term. Second, even assuming the high participation rate, maturity of the pension system, and stable employment, the proportion of old-age pensioners receiving more than minimum cost of living was found to be 50% level. Third, a group of workers who have experienced more precarious work tend to have 30%p lower proportion of old-age pensioners who are receiving more than minimum cost of living than stable group. These results have shown that the current welfare structure needs to be adjusted to give more protection for those precarious workers who are highly unlikely to be covered by the social insurance system.
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KEYWORD
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Dynamic Micro-simulation model, Precarious Work, Old Age Income Security, National Pension System
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