A Study on Individual Retirement Preparedness Index Model (개인은퇴준비지수에 관한 연구)

Yoonkyung Yuh (여윤경)

A Study on Individual Retirement Preparedness Index Model

Journal of Insurance and Finance
2011, 22(3), pp.33-68
Publisher : Korea Insurance Research Institute
Research Area : Social Science > Business Management

Yoonkyung Yuh ¹

¹이화여자대학교

Accredited

ABSTRACT

This study develops an Individual Retirement Preparedness Index (IRPI) model. Individual data used for the analyses were derived from the third wave of Korean Retirement and Income Study by National Pension Research Institute. Total 16 IRPIs were estimated for pre-retired individuals and factors affecting the IRPIs were identified. Independent effects of educational attainment and having a spouse were clearly confirmed. Also, having a private pension was found to have a significant effect on higher IRPIs, and professionals tend to have higher IRPIs compared with non-professionals. In addition, significant and independent effects of income and net worth on the IRPIs were also confirmed as shown in previous studies. These findings have policy implications for the national pension reform as well as retirement planning strategies for individuals.

KEYWORDS

Korean Retirement and Income Study, national pension, pension policy, retirement preparedness index

Citation status

* References for papers published after 2023 are currently being built.

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