노인 가족에 있어서 주택연금 노후소득보장 효과

The Elderly Income Guarantee Effect of Korean Reverse-Mortgage

In this study, we developed a new methodology to measure the degree of guarantee of old-age earnings of public pension. In addition, this method was used to compare the effect of securing the old-age income between the public reverse mortgage and the public pension. In this study, the proposed new methodology is the “contribution to guarantee of old-age income,” which is a comprehensive single index covering both income replacement rate and eligibility. Based on this methodology, we estimated the income guarantee effect of national pension, basic pension, and public reverse mortgage, all of which are representative public pensions in Korea. The results of the estimation of the contribution of the old-age income guarantee show that the contribution of the public reverse mortgage was 31.3%, which was about two times higher than the basic pension at 15.0% and the national pension at 14.5%. This means that if the public reverse mortgage is additionally applied to the public pension system, the current senior citizen family generation can increase the contribution of the old-age income guarantee up to 60.8%.