EconPapers    
Economics at your fingertips  
 

Expanding coverage of the National Pension in Korea: the effectiveness of the matching contribution subsidy

Hyungpyo Moon

Chapter 6 in Social Policies in an Age of Austerity, 2015, pp 137-162 from Edward Elgar Publishing

Abstract: Hyungpyo Moon examines the compliance behavior in the National Pension system in Korea and evaluates the effectiveness of the matching contribution subsidy in expanding coverage. The author begins with a brief history of the system and its pitfalls. In 1988 the Korean government introduced the National Pension Scheme, but with limited coverage. According to data from the National Pension Corporation for the year 2009, a total of 18.6 million people were insured under the system. Slightly more than half were insured through their place of work and the others were insured as individuals. However, well over half of the individually insured were given exemptions or deferrals from making contributions. In Korea, workers are entitled by law to be insured through their place of work. But employers in smaller companies often are either unable or unwilling to pay the employer’s contribution to the scheme, leaving the workers uninsured. Such workers may join the scheme as individuals, but many of them choose to remain excluded from the system, either because they do not want to pay the premium or because of the burden it would place on an already low level of income.

Keywords: Asian Studies; Economics and Finance; Social Policy and Sociology (search for similar items in EconPapers)
Date: 2015
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/9781784717568.00015.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:16524_6

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().

 
Page updated 2025-03-31
Handle: RePEc:elg:eechap:16524_6