The gendered impact of the National Pension Scheme on late-life economic well-being: evidence from the Korean retirement and income study

Abstract

Purpose The purpose of this paper is to analyse the effect of the National Pension Scheme (NPS) on the economic well-being of older people in South Korea. Design/methodology/approach It analyses older people aged 60 and over sampled from the third wave of the Korean retirement and income study. Findings The analysis shows a gendered effect. The NPS is positively associated with the economic well-being of only older men. This gendered impact is probably attributable to the inherent patriarchal structure of the NPS that is based on the strong male bread-winner model. Originality/value The results suggest that promoting the female labour market participation, and also reforming the gender structure of the NPS and South Korean labour market, can be a potential policy option to amend gendered economic well-being in later life.