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Poverty and asset distribution among Korea's elderly according to household type and public pension beneficiary status

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Frame of Image are urgently needed. ○ The average elderly poverty rate among OECD countries is 13.5%. Korea’s rate is 45.1%, 3.4 times higher. ○The country also faces a suicide rate among the elderly that is nearly four times the average for OECD countries, with poverty widely understood to be an underlying factor.  An effective response to poverty among the elderly requires an accurate determination of which segments of the population are better and worse off. ○ The higher poverty rate among the elderly does not necessarily imply that the same policies should be applied to all of Korea’s elderly. Indeed, not taking consideration of differences within the elderly population could result in the failure to assist those mired deep in poverty. ○ The result of failing to detect differences in financial means between segments of the elderly population is that resources are more likely to be directed to those living under relatively favorable conditions, while those with greater needs are neglected. *This is translated version of KDI Policy Forum released on February 21, 2013 KDI Policy Forum 2  Poverty was found primarily in single elderly households; the poverty rate for those living with working-age household members was not significantly different from that of the overall population. ○ Poverty was primarily found in households without working-age members in which elderly individuals lived alone or with young people below the working age. The poverty rate for this segment was 70.9%, compared


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Title Poverty and asset distribution among Korea's elderly according to household type and public pension beneficiary status
Similar Titles
Material Type Thesis
Author(English)

Yun,Heesuk; Kwon, Hyungjoon

Publisher

Sejong, South Korea : Korea Development Institute
Date 2014-03
Series Title; No KDI policy forum / vol.254
Pages 12
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Social Development < Health
Social Development < Social Welfare
Holding Korea Development Institute
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