Strengthening the social safety net in Korea

نویسندگان

چکیده

Social protection in Korea is designed around traditional forms of employment and excludes a substantial share workers non-standard employment. The resulting social gaps compound income inequality undermine financial sustainability as uninsured persons rely on tax-financed benefits. Besides, Korea’s tax benefit system discourages taking up or returning to low-paid work from assistance unemployment Expanding the reach insurance while redesigning could boost incentives reduce poverty. elderly poverty rate persistently high, partly because public pensions were introduced relatively recently. Better targeting means-tested Basic Pension considerably. Lengthening careers essential ensure pension adequate retirement for future retirees. Shifting severance pay corporate would help improve lower employers’ push early retirements. Reducing inequalities access health long-term care will require expansion primary affordable quality home-based care. This also address overreliance hospitals cope with rising demand.

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ژورنال

عنوان ژورنال: OECD Economics Department working papers

سال: 2022

ISSN: ['1815-1973']

DOI: https://doi.org/10.1787/45486525-en