The changing Population Structures and Future Prospects of Old Age Income Security

Abstract

The system of old-age income security, which is closely linked to demographic change, is a multi-pillar system consisting of the national pension, the basic pension and the retirement pension plan. As the population is expected to age rapidly, even if the current system of income security in old age remains in place, the level of security for current and future generations will differ. This study forecasts the level of old-age income for each generation, including the national pension, the basic pension and the retirement pension, in preparation for rapid demographic change in the future, and examines the policy direction of a multi-pillar system based on the results of the analysis.