The Burden of Dual Tasks and Perceived Social Insecurity among Middle-Aged Koreans: Focusing on Family Care and Old-Age Preparation

Abstract

This study explores whether the prevalence of perceived social insecurity among those aged 45 to 64 varies depending on their family support burdens and preparation for old age. Middle age was once considered a golden period in life. However, as the population ages and the age at marriage increases, middle-aged people are increasingly burdened with supporting both their parents and children. Preparing for old age is proving to be increasingly difficult, not least due to precarious labor market conditions and the limited benefits one can expect from public pensions. The prevalence of perceived social insecurity among the middle-aged is high for those with family support burdens and even higher for those who report being unprepared for old age. An estimated 12.5 percent of the surveyed middle-aged individuals are found to both have family support burdens and remain unprepared for old age. People in their 40s are more frequently burdened with supporting both their parents and children compared to those in their 60s. This study found that 76.2 percent of those aged 45 to 64 perceive our society as insecure. Even with sociodemographic characteristics and intergenerational differences controlled for, those with family support burdens who are unprepared for old age have a 7 to 8 percentage point higher prevalence of perceived social insecurity. Our analysis reveals the need for strengthening social security programs to ease the perceived social insecurity attendant on the difficulties middle-aged Koreans have in supporting their families and preparing for their own old age.