Forecasts on the Real Income Replacement Rates of Public and Private Pensions by Birth Cohort - Focusing on the Annuitization of Retirement Benefits for Stabilizing Old-Age Income

Baek, Hyeyoun

Title: Forecasts on the Real Income Replacement Rates of Public and Private Pensions by Birth Cohort - Focusing on the Annuitization of Retirement Benefits for Stabilizing Old-Age Income

Author(s): Baek, Hyeyoun

Keyword: 출생코호트별 ; 소득대체율

Publication Year: 2015

Publisher: Korea Institute for Health and Social Affairs

Table Of Contents: CHAPTER 1
Contents
How prepared are Koreans for post-retirement life? 3

CHAPTER 2
Survey on the post-retirement preparations of retirees in Korea 11

CHAPTER 3
Retirement Pension Systems in Korea and Abroad 27
A. Retirement benefits system in Korea: current status and issues 31
B. Annuitization rate in Korea 33
C. Literature on the income replacement rates of retirement pensions 34
D. Comparison of annuitization scheme policies in other countries 38

CHAPTER 4
Total Income Replacement Rate Estimates of Public and Private Pensions for Different Generations 43
A. National Pension and other basic pensions: amounts of benefits and income replacement rates 45
B. Income replacement rate of retirement pensions 53
C. Total income replacement rate of public and private pensions in Korea 62

CHAPTER 5
Conclusion 69

References 73

Local ID: Working Paper 2015-04

ISBN: 978-89-6827-294-3

KIHASA Research Subject Classification: Income protection > Public pension

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