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최혜은 ( Haeeun Choi ),유종성 ( Jong-sung You ) 한국연금학회 2022 연금연구 Vol.12 No.1
Korea has not only the highest elderly poverty rate among the OECD countries but also belongs to the top group in terms of old-age income inequality. Hence, there is need for in-depth analysis of the effects of public transfers such as public pensions and the basic pension on income inequality as well as poverty among older people in Korea. In particular, some scholars have argued that public pensions may increase income inequality in old age. Such argument should be tested empirically. This study examines the impact of public pensions, including the National Pension and special occupational pensions, and the Basic Pension on old-age income inequality. We employ Gini coefficient decomposition method in order to identify the effect of each income source on income inequality, using data from the Survey of Household Finances and Living Conditions for the years from 2011 to 2020. Among the previous studies of the impact of public pensions and the basic pension on old-age income inequality, only Hwang(2016) employed the Gini coefficient decomposition method. He found that public pension benefits had inequality-intensifying effect on old-age income in Korea, using data from the National Survey on the Living Status of the Korean Elderly for the years from 1998 to 2010. We need to reexamine the possible changes in the effects of public pensions and the basic pension, considering substantial expansion of these pension schemes since then. Our analysis shows that public pensions still have inequality-intensifying effect, while the basic pension has inequality-ameliorating effect among the elderly in Korea.