Old-age income security and private transfers in South Korea.
We examined the relative contributions of government income support programs and familial transfers to old-age income security in Korea. This issue is critical, as policy reforms are in progress, and the potential crowding-out effect of government programs on familial transfer is at the center of heated debate. Using the 2006 Korean Longitudinal Study of Aging, we found that one-third of the elderly were poor and the contribution of public transfer to income security for the elderly was limited, whereas family, especially children, played a large role both by co-residing and through private transfers. Crowding out is less of a problem for the poor but a sensitive issue for middle-income families.
Lee
Jinkook
J
Ohio State University, Columbus, Ohio, USA. JINKOOK@RAND.org
Lee
Youngae
Y
D032721:Adult Children; D000368:Aged; D005260:Female; D005378:Financial Support; D006801:Humans; D007182:Income; D008137:Longitudinal Studies; D008297:Male; D008875:Middle Aged; D010287:Parent-Child Relations; D011203:Poverty; D011640:Public Policy; D056910:Republic of Korea; D012111:Residence Characteristics; D012943:Social Security / Q000458:organization & administration*