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The Impact of the Basic Old-Age Pension Scheme on Poverty Reduction and Income Guarantee

Sung-ho Kang 1 최옥금 1

1국민연금관리공단

Accredited

ABSTRACT

The purpose of this study is to explore the impact of the basic old-age pension scheme on poverty reduction and income guarantee. Using the KOWEPS(Korean Welfare Panel Study), we analyzed the impact of basic old-age pension scheme on poverty reduction and income guarantee. The results of this study are as followed: first of all, the basic old-age pensioner have chance to get out of the state of poverty. But people who cannot receive the basic old-age pension have risk to be the state of relative poverty. Second, the basic old-age pension has the impact of income guarantee. However, this impact has the limitation because it is only focused on the poor. Such results suggest that the basic old-age pension has the impact on poverty reduction and income guarantee, but the impact is very marginal. therefore it is needed to increase the benefit of the basic old-age pension and make a reform the basic old-age pension.

Citation status

* References for papers published after 2022 are currently being built.