Reforming the basic pension eligibility threshold

Dohun Kim and Seunghee Lee

No 139, KDI Focus from Korea Development Institute (KDI)

Abstract: South Korea's Basic Pension, which currently covers 70% of its older adults, does not reflect the declining elderly poverty rate as their income and asset levels rise. To ease fiscal burdens while effectively addressing elderly poverty, its eligibility threshold should shift from a fixed share of older adults to one tied to the national median income, better targeting vulnerable older adults for support. In the long term, integrating the Basic Pension with the National Basic Livelihood Security System to establish an old-age minimum income guarantee warrants consideration.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:kdifoc:319702

DOI: 10.22740/kdi.focus.e.2025.139

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