주택을 이용한 연금보완제도의 활용방안에 관한 연구 - 프랑스 비아제(Viager)를 중심으로 -

A Study of the Application of a Complementary Measure to a Public Pension for Elderly Homeowners - Mainly Focused on the French “Viager” -

1. CONTENTS (1) RESEARCH OBJECTIVES This research reported about a retirement income arrangement in the rapidly aging society of Korea. Owing to the rapid increase of its aging population and the dramatic decrease of its birth rate in the recent years, Korea is one of the most aged countries and the change of this demographic structure creates social and economic problems of our society. It is thought that income security for the aged is the core of welfare for the aged and the main issue of the aged society. At present, a public pension scheme and an aged employment service are only available policies for the income security for the aged, and both of them are unable to meet their financial need. (2) RESEARCH METHOD In the method of the study, Under such circumstances, this paper examines a complementary measure to a public pension that enables older homeowners to convert part of the equity in their homes into income. In order to analyze information of a reverse mortgage was collected from the web sites. and from books and articles published in the French. One of currently available such programs in Korea is a reverse mortgage. Based on the evaluation of case studies of present situations and political and social aspects arisen from the introduction of the Viager. (3) RESEARCH RESULTS The homeowners receive a certain amount of cash on a regular basis from banks by using their homes as collateral. However, the reverse mortgage has several risk factors, and they have not been properly assessed yet in Korea. Another program is a French aleatory contract or a reverse annuity mortgage known as Viager where homeowners sell their properties to buyers in exchange for regular cash installments for the rest of their life while continuing to live in the house. 2. RESULTS In this paper, differences between the reverse mortgage and the Viager agreement are discussed, and the legal matters and limitation of the Viager as an aleatory real estate agreement between individuals are assessed. It also examines the feasibility of the Viager to stimulate a reverse mortgage market in Korea and the possible effects of its introduction. 3. KEY WORDS Viager, legal matters, reverse annuity mortgage, retirement income.