@article{ART002393357},
author={KIM, Won-Sub},
title={Evaluation and Implications of the German Riester Pension Scheme},
journal={Korea Social Policy Review},
issn={1226-0525},
year={2018},
volume={25},
number={3},
pages={279-303},
doi={10.17000/kspr.25.3.201809.279}
TY - JOUR
AU - KIM, Won-Sub
TI - Evaluation and Implications of the German Riester Pension Scheme
JO - Korea Social Policy Review
PY - 2018
VL - 25
IS - 3
PB - Korean Association of Social Policy
SP - 279
EP - 303
SN - 1226-0525
AB - Since the introduction of the Riester Pension Scheme, the controversy has continued in the policy studies and the political debates. This study evaluates the achievements and limitations of the German Riester pension scheme and tries to derive policy implications for South Korea. As a result of the analysis, the most worthwhile achievement of the Riester Pension is to strengthen the role of the private pension schemes. Unlike other private pension schemes, it included a large part of lower income households. It also opened a new perspective of utiliz ing private pension schemes to accomplish the goals of the family policy. Despite these attain ments, it does not reach the promised coverage rate. It also was revealed that the higher in come households have concluded more Riester Pension Contracts than the targeted lower-income households. Due to high administration fee and incomplete information problems, benefit levels are supposed to be much lower than expected. It concludes, above all, despite some achievements, the Riester Pension Scheme will not fill completely the gap of old age in come security caused by the reduction of the public pension system. The German case pro vides fruitful lessons for Korea. The introduction of a subsidized personal pension scheme in South Korea can be realized only when some prerequisites would be satisfied such as the con solidation and maturing of public pension schemes and the strengthening of the transparency in the private pension market.
KW - German pension reform;Riester Pension Scheme;Private Personal Pension Scheme;Subsidized personal pension scheme
DO - 10.17000/kspr.25.3.201809.279
ER -
KIM, Won-Sub. (2018). Evaluation and Implications of the German Riester Pension Scheme. Korea Social Policy Review, 25(3), 279-303.
KIM, Won-Sub. 2018, "Evaluation and Implications of the German Riester Pension Scheme", Korea Social Policy Review, vol.25, no.3 pp.279-303. Available from: doi:10.17000/kspr.25.3.201809.279
KIM, Won-Sub "Evaluation and Implications of the German Riester Pension Scheme" Korea Social Policy Review 25.3 pp.279-303 (2018) : 279.
KIM, Won-Sub. Evaluation and Implications of the German Riester Pension Scheme. 2018; 25(3), 279-303. Available from: doi:10.17000/kspr.25.3.201809.279
KIM, Won-Sub. "Evaluation and Implications of the German Riester Pension Scheme" Korea Social Policy Review 25, no.3 (2018) : 279-303.doi: 10.17000/kspr.25.3.201809.279
KIM, Won-Sub. Evaluation and Implications of the German Riester Pension Scheme. Korea Social Policy Review, 25(3), 279-303. doi: 10.17000/kspr.25.3.201809.279
KIM, Won-Sub. Evaluation and Implications of the German Riester Pension Scheme. Korea Social Policy Review. 2018; 25(3) 279-303. doi: 10.17000/kspr.25.3.201809.279
KIM, Won-Sub. Evaluation and Implications of the German Riester Pension Scheme. 2018; 25(3), 279-303. Available from: doi:10.17000/kspr.25.3.201809.279
KIM, Won-Sub. "Evaluation and Implications of the German Riester Pension Scheme" Korea Social Policy Review 25, no.3 (2018) : 279-303.doi: 10.17000/kspr.25.3.201809.279
