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Improvement of Permanent Disability Benefit System in Korean Worker's Compensation Insurance from the Perspective of Life Cycle

오종은 1

1근로복지공단 근로복지정책연구센터

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ABSTRACT

The permanent disability benefit(PDB) system whose purpose lies in helping affected workers with their self-realization through compensating them for their work-related injury or disease and facilitating their timely return to work is very important in terms of social welfare. Actually, the portions of PDB’s in all WCI expenditures have been on the sharp increase. In spite of its positive aspects like this, however, an excessive amount of PDB’s may have negative impacts on the affected workers’ will to work or return to work, and increasing trends in the amount of PDB’s payable in annuity will remain in an aging or aged society a potentially risky factor posing a threat to the soundness of WCI budgets. In this respect, the author attempted herein to identify the long-term reality of trends in the number of claimants entitled to PDB’s and the amount of PDB’s payable to them through making the long-term budget projections of PDB’s; address problems with PDB’s payable in annuity, which are or will potentially be one of the gravest burdens in securing the soundness of WCI budgets; and discuss how to optimize the amount of PDB’s through studying & analyzing overseas cases and income replacement rates and what kinds of improvements are thinkable. It’s recommended to reduce the absolute amount of benefits payable in annuity in a phased way considering claimants’ life-cycle instead of sticking to the current system, which takes the form of lifelong pension plan.

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