The effect of social pension on consumption among older adults in Korea

Kang, Ji Young; Park, Sojung; Ahn, Seoyeon

doi:10.1016/j.jeoa.2021.100364

Cited by 7 publications

(5 citation statements)

References 31 publications

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“…The existing literature has established the positive economic impacts of social pension expansion, including increased disposable income and reduced poverty among older adults in various economies (Ebbinghaus, 2021; Ferreira, 2006; Kang et al, 2022; Lee, 2022; Lee et al, 2019; Long & Pfau, 2009). However, to gain a comprehensive understanding of the effects of social pension on overall wellbeing, it is crucial to examine the physical and mental health outcomes of older recipients following such expansions.…”

Section: Discussionmentioning

confidence: 99%

“…A review of the literature reveals that many impact evaluations focus on understanding the effects of social pension on economic and poverty indicators (Ferreira, 2006; Kang et al, 2022; Lee, 2022; Lee et al, 2019). Policymakers are particularly interested in exploring whether more generous social pension benefits lead to the undesirable “crowding-out” effect, where income of older adults from other sources, such as employment or family transfers, is reduced.…”

Section: Introductionmentioning

confidence: 99%

“…Policymakers are particularly interested in exploring whether more generous social pension benefits lead to the undesirable “crowding-out” effect, where income of older adults from other sources, such as employment or family transfers, is reduced. However, global evidence from rigorous experimental designs provides reassurance that the crowding-out effect is minimal, and social pension expansions have been found to significantly improve household income, reduce poverty rates in old age, and increase household expenditures (Ebbinghaus, 2021; Ferreira, 2006; Kang et al, 2022; Lee, 2022; Lee et al, 2019; Long & Pfau, 2009).…”

Section: Introductionmentioning

confidence: 99%

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Health Outcomes of Social Pension Expansion: A Quasi-Experiment Among Older Adults in Hong Kong

Zhu,

Chou

2023

J Appl Gerontol

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A social pension, regarded as a reliable source of income, has the potential to significantly influence the overall wellbeing of vulnerable older adults. This study aimed to extend the understanding of the effects of social pension expansion beyond its economic impacts to encompass recipients’ health status. Using three-wave data from a representative sample of older adults, we employed a quasi-experimental assessment model to evaluate the impact of a recent social pension expansion in Hong Kong on health-related consumption and health outcomes among older adults. The results of the triple difference estimations revealed that an increased social pension significantly enhanced older people’s engagement in entertainment activities, utilization of healthcare services, and expenditures on preventive health products. Furthermore, the increased social pension was found to have a significant positive effect on mitigating poor self-rated health and poor sleep quality. However, it did not have a significant impact on the prevalence of depression. These findings suggest that social pension expansion should be coordinated with other policy initiatives to comprehensively improve the physical and mental health of older adults.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Health Outcomes of Social Pension Expansion: A Quasi-Experiment Among Older Adults in Hong Kong

Zhu,

Chou

2023

J Appl Gerontol

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“…Social pensions have been shown to decrease elderly poverty, but it is also essential to consider social policy compatibility. Thus, policy development should account for countryspecific factors (Barrientos, 2015) and coherence with other social protection initiatives (Kang et al, 2022).…”

Section: Elderly Poverty and Social Securitymentioning

confidence: 99%

If it is adequate, it is not affordable: stakeholder perceptions on opportunities and constraints for pension reform in Indonesia

Bakroh,

Hiilamo

2024

IJSSP

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PurposeThe purpose of the study is to emphasise the urgent need for pension policy reform within Indonesia’s social security system.Design/methodology/approachThe methodology employed in this research includes qualitative techniques such as in-depth interviews and thematic content analysis.FindingsThe findings suggest various measures for pension reform, including revising eligibility criteria, adjusting benefit designs to cover housing and transportation costs, promoting Defined Benefit Plans, enforcing compliance, addressing insufficient contributions, advocating for transparency, and aligning social assistance programs with pension system enhancements. However, there is a trade-off between the adequacy of pension benefits and the amount of resources required.Research limitations/implicationsThis study is limited by the need for more individuals knowledgeable about pension issues in Indonesia, primarily due to their high-ranking positions, making access challenging and potentially compromising the small sample size in research.Practical implicationsThe research underscores the importance of maintaining policy consistency. It proposes a gradual increase in pension contributions as a pivotal strategy to ensure sustained financial security for retirees, particularly in the face of fiscal constraints. Also, the government should undertake comprehensive reforms, encompassing the revision of eligibility criteria, adjustment of minimum benefit designs, encouragement of employer contributions and effective management of compliance issues.Social implicationsSocial implications emphasise the importance of enhancing the financial security of retirees within Indonesia’s ageing population.Originality/valueThe originality and value of the research lie in guiding pension reform from the viewpoint of key policymakers involved in Indonesia’s pension system.

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“…While the Korean employment rate for older adults is relatively high, the poverty rate for individuals aged 65 and over significantly exceeds the rates found in other OECD countries, standing at 43.4% compared to the OECD average of 13.1% [5]. The underlying vulnerabilities within Korea's public pension system serve as the foundation for this issue [6]. Uniquely in Korea, the principal income streams for older adults aged 65 and above are not national pensions, rather labor earnings and family allowances [7].…”

Section: Introductionmentioning

confidence: 99%

Working hours, social engagement, and depressive symptoms: an extended work-life balance for older adults

Kim,

Jang,

Cho

2023

BMC Public Health

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Background In recent years, researchers have been examining the impact of work-life balance (WLB) on mental health, considering it as a potential risk factor. However, it remains unclear whether the traditional understanding of WLB applies to older adults who worked for fewer hours before full retirement and whose children are likely to be independent adults. Therefore, this study aims to propose a modified form of WLB specifically for older adults. Within this context, we hypothesize that an optimum balance between working hours and social engagement protects against depressive symptoms among older adults. Method We conducted an analysis using data on 5,751 Korean adults older than 55 years from the Korean Longitudinal Study of Aging 2016. Multivariate logistic regression analysis was used to evaluate the relationships among working hours, social engagement, and depressive symptoms. Results Older adults who worked fewer than 35 h per week were less likely to experience depressive symptoms than were non-working older adults and those working 35 h or more per week. Additionally, older adults with a high level of informal social participation, thus occurring almost every day or two to three times per week, were less likely to experience depressive symptoms than were those with a low level of such participation (once a month or less). Furthermore, depressive symptoms were less frequent among those who worked fewer than 35 h per week and engaged in a high level of informal social participation compared to non-working older individuals and those with a low level of informal social participation. Conclusions Maintaining an optimal number of working hours and degree of social engagement are necessary to minimize the risk of depressive symptoms in older adults. Based on these findings, we suggest that fulfillment for work and life and their balance are important for older adults and propose work–life fulfillment balance.

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The effect of social pension on consumption among older adults in Korea

Cited by 7 publications

References 31 publications

Health Outcomes of Social Pension Expansion: A Quasi-Experiment Among Older Adults in Hong Kong

Health Outcomes of Social Pension Expansion: A Quasi-Experiment Among Older Adults in Hong Kong

If it is adequate, it is not affordable: stakeholder perceptions on opportunities and constraints for pension reform in Indonesia

Working hours, social engagement, and depressive symptoms: an extended work-life balance for older adults

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