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Finnish Pension Reforms to respond to Ageing

  • Journal of the Scandinavian Society of Korea
  • Abbr : JSSK
  • 2021, (28), pp.65-96
  • Publisher : The Scandinavian Society of Korea
  • Research Area : Social Science > Area Studies > North Europe(Scandinavian)
  • Received : December 4, 2021
  • Accepted : December 28, 2021
  • Published : December 31, 2021

Eunsun Joo 1

1경기대학교

Accredited

ABSTRACT

This article investigates the direction of Finnish pension reforms to respond to ageing. It was especially emphasized to make old workers work longer as the goal of the pension reforms in Finland. Population factors were included in calculations of pension benefits and pension age. These suggest that it is needed to embrace ‘longer work of the old’ as an essential issue beyond the conflict between financial sustainability and adequacy in Korea, too. For example ratio of contribution period to benefit receive period can be the goal and the indicator of the effects of the reforms. Reduction in benefit due to inclusion of population factors in pension calculation were compensated by various measures in Finnish pension reforms. It suggests the need to comply with minimum income guarantee standard in Korean pension system to respond to ageing.

Citation status

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