□ 소득 빈곤율은 평균 소득이 빈곤 기준선인 '중위가구 가처분소득의 50% 미만'인 인구의 비율을 의미함. 한국의 66세 이상 노인 인구 중 66∼75세의 노인 소득 빈곤율은 31.4%인데 비해, 76세 이상은 52.0%로 2명 중 1명 이상이 빈곤층에 속한 것으로 파악됨. 성별로 보면 66세 이상 한국 여성의 소득 빈곤율은 45.3%로 남성(34.0%)보다 11.3%포인트 높았음
□ OECD 회원국 66세 이상 인구의 평균 가처분소득은 전체 인구 평균 가처분소득의 88.0%였고, 66∼75세 93.2%, 76세 이상 80.9%로 나이가 들수록 가처분소득이 줄어드는 것으로 나타남. 한국의 노인 인구 가처분소득은 전체의 68.0%로, 리투아니아(67.4%) 다음으로 OECD 회원국 중 가장 낮았으며, 76세 이상 노인 인구 가처분소득은 58.6%로 OECD 국가 중 가장 순위가 낮았음
□ OECD는 ”한국의 연금 제도가 아직 미성숙하고, 고령 노인이 받는 연금은 매우 낮은 수준”이라고 평가함. 한국의 연금 소득대체율(연금 가입기간 평균소득 대비 받게 될 연금액의 비율)은 31.6%로, OECD 평균(50.7%)의 3분의 2에도 못 미쳤고, 은퇴 후 가처분소득을 은퇴 전 근로활동 때 가처분소득과 비교한 '순연금대체율'도 35.8%에 불과해, OECD 평균(61.4%)의 절반을 약간 넘는 수준에 불과한 것으로 나타남
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76세 이상 2명 중 1명은 '가난'…노인 빈곤율 또 OECD 1위 (2023.12.19.) / 연합뉴스
목차
Title page
Contents
Foreword 4
Editorial 5
Executive summary 11
1. Recent pension reforms 14
Introduction 15
Population ageing: COVID-19 and life expectancy 18
Still increasing employment of older ages throughout COVID-19 25
Pensioners' income security and inflation 28
Recent pension reforms 40
References 57
Annex 1.A. Recent pension reform overview 62
Notes 87
2. Pension provisions for workers in hazardous or arduous jobs 93
Introduction 94
Key findings and policy implications 94
Why special pension rules for hazardous or arduous jobs? 97
Scope and causes of occupational differences in health and mortality 100
Pension provisions for workers in hazardous or arduous jobs in OECD countries 103
Reform trends 112
How labour market and other social policies address work-related risks 115
Policy implications 118
References 123
Notes 129
3. Design of pension systems 131
Architecture of national pension systems 132
Basic, targeted and minimum contributory pensions 134
Eligibility and indexation for first-tier benefits 136
Mandatory earnings-related pensions 138
Current retirement ages 140
Future retirement ages 142
4. Pension entitlements for the base case 145
Methodology and assumptions 146
Gross pension replacement rates 148
Gross replacement rates: Public vs. Private, Mandatory vs. Voluntary schemes 150
Tax treatment of pensions and pensioners 152
Net pension replacement rates 154
Net pension replacement rates: Mandatory and voluntary schemes 156
Gross pension wealth 158
Net pension wealth 160
5. Pension entitlements for alternative scenarios 162
Gross pension entitlements for couples 163
Impact of unemployment breaks on pension entitlements 165
Impact of childcare breaks on pension entitlements 167
Impact of different earnings profile on pension entitlements 169
Sensitivity of replacement rates to changes in the economic assumptions 171
Theoretical relative pensions of the self-employed 173
6. Demographic and economic context 175
Fertility 176
Life expectancy 178
Demographic old-age to working-age ratio 180
Employment rates of older workers and gender gaps 182
Changes in employment rates of older workers 184
Effective age of labour market exit 186
Expected life years after labour market exit 188
7. Incomes and poverty of older people 190
Incomes of older people 191
Old-age income poverty 193
Old-age income inequality 197
Average wage 199
8. Finances of retirement-income systems 201
Mandatory pension contributions 202
Public expenditure on pensions 204
Private expenditure on pensions 206
Long-term projections of public pension expenditure 208
9. Asset-backed pension systems 210
Participation in pension plans 211
Contributions paid into pension plans 213
Assets earmarked for retirement 215
Allocation of assets 217
Investment performance 219
Landscape of pension plans 221
Fees charged to members of defined contribution plans 223
Funding ratios of defined benefit plans 225
Table 1.1. Overview of OECD countries by way of indexing pensions in payment 31
Table 1.2. Several countries have deviated from their pension indexation rules 37
Table 2.1. Occupational scope of pension provisions for hazardous or arduous jobs in OECD countries 106
Table 3.1. Structure of retirement-income provision through mandatory schemes 133
Table 3.2. Current level and recipients of first-tier benefits 135
Table 3.3. Indexation of first-tier benefits 137
Table 3.4. Future parameters and rules of mandatory earnings-related pensions, latest legislation 139
Table 3.5. Current early and normal retirement ages by type of pension scheme 141
Table 3.6. Future ages, penalties and bonuses for early, normal and late retirement by type of pension scheme 144
Table 4.1. Gross pension replacement rates by earnings, in percentage, mandatory schemes 149
Table 4.2. Gross pension replacement rates from mandatory public, mandatory private and voluntary private pension schemes, in percentage 151
Table 4.3. Treatment of pensions and pensioners under personal income tax and mandatory public and private contributions 153
Table 4.4. Net pension replacement rates by earnings, in percentage 155
Table 4.5. Gross and net pension replacement rates from mandatory (public and private) and voluntary pension schemes, in percentage 157
Table 4.6. Gross pension wealth by earnings, multiple of annual earnings 159
Table 4.7. Net pension wealth by earnings 161
Table 5.1. Gross pension entitlements by earnings: singles versus couples, percentage of average earnings 164
Table 5.2. Gross and net pension benefit level by earnings profile 170
Table 5.3. Annual economic assumptions 171
Table 5.4. Gross pension replacement rates by different economic assumptions 172
Table 5.5. Contributions requirements to mandatory and quasi-mandatory pensions for the self-employed 174
Table 6.1. Total fertility rates, 1962-2062 177
Table 6.2. Demographic old-age to working-age ratio: Historical and projected values, 1952-2082 181
Table 7.1. Incomes of older people, 2020 or latest available year 192
Table 7.2. Income poverty rates by age and gender, 2020 or latest available year 194
Table 7.3. Change in relative income poverty rates between 2000 and 2020 by age 196
Table 7.4. Income inequality by age: older vs. total population, 2020 or latest available year 198
Table 7.5. Gross average wage (AW), 2022 200
Table 8.1. Contribution rates for an average worker in 2022 203
Table 8.2. Public expenditure on old-age and survivor benefits 205
Table 8.3. Private pension-benefit expenditures 207
Table 8.4. Projections of public expenditure on pensions, 2020-60, percentage of GDP 209
Table 9.1. Participation rate in pension plans in the OECD and selected other jurisdictions, latest year available 212
Table 9.2. Assets earmarked for retirement in OECD countries and selected other major economies, at the end of 2022 or latest year available 216
Table 9.3. Nominal and real geometric average annual investment rates of return of pension plans in 2022 and over the last 5, 10, 15 and 20 years, in percent 220
Table 9.4. Nominal and real geometric average annual investment rates of return of selected public pension reserve funds in 2022 and over the last 5, 10, 15... 220
Table 9.5. Types of pension plans available in the OECD area and selected other major economies according to the OECD taxonomy, 2022 222
Table 9.6. Fee structure in selected OECD and other major economies 224
Table 9.7. Annual fees charged to members of defined contribution plans by type of fees, 2022 224
Figure 1.1. Projected remaining life expectancy at 65 for the period 2050-55 19
Figure 1.2. Life expectancy gains have been smaller over the last decade 19
Figure 1.3. No international trend in the evolution of the educational gap in life expectancy 21
Figure 1.4. WHO estimates higher healthy life expectancy than Eurostat 23
Figure 1.5. WHO show more stable growth in healthy life expectancy over time than Eurostat 24
Figure 1.6. Employment rates for older adults lag behind those of prime-age individuals 26
Figure 1.7. Most OECD countries have resumed the pre-COVID trend of growing employment at older ages 27
Figure 1.8. Average time in retirement from the labour market increased substantially since 1975 28
Figure 1.9. Different types of pension indexation and their impact 35
Figure 1.10. Pensions were lower in real terms in many countries in January 2023 compared to January 2022 39
Figure 1.11. The normal retirement age will be rising in more than half of OECD countries 42
Figure 1.12. Only six OECD countries maintain gender gaps in future normal retirement ages 43
Figure 1.13. Only a few countries do not take the whole career into account for the reference wage 47
Figure 1.14. Older people on average have lower incomes than other age groups 49
Figure 1.15. Older people are more likely to be in relative income poverty than other age groups 50
Figure 1.16. Net pension replacement rates for average and low earners 53
Figure 2.1. Coverage of pension provisions for hazardous or arduous jobs among workers, new retirees and retirees 107
Figure 2.2. Pension provisions of hazardous or arduous jobs effectively cover mainly men 108
Figure 2.3. Pension provisions for hazardous or arduous work reduce the minimum pensionable age by more than 5 years in some countries 109
Figure 2.4. Workers in hazardous or arduous jobs effectively claim pensions earlier 110
Figure 3.1. Taxonomy: Different types of retirement-income provision 133
Figure 3.2. Non-contributory first-tier benefits 135
Figure 3.3. Contributory first-tier benefits 135
Figure 3.4. Number of years required for partial and full contribution-based basic pensions 137
Figure 3.5. Number of years required for partial and full minimum contributory pensions 137
Figure 3.6. Difference in the normal retirement age by gender and for earlier career start 141
Figure 3.7. Gender gap in current and future normal retirement ages 142
Figure 3.8. Current and future normal retirement ages for a man with a full career from age 22 143
Figure 3.9. Current and future early retirement ages for a man with a full career from age 22 143
Figure 4.1. Gross pension replacement rates in percentage: Average earners at retirement age and age 80 149
Figure 4.2. Gross pension replacement rates in percentage: Low and high earners 149
Figure 4.3. Personal income taxes and social security contributions paid by pensioners and workers, percentage of income 153
Figure 4.4. Net and gross pension replacement rates: Average earners, in percentage 155
Figure 4.5. Net pension replacement rates: Low and high earners, in percentage 155
Figure 4.6. Gross pension wealth for lower earners by gender, multiple of annual earnings 159
Figure 4.7. Gross pension wealth for average earners by gender, multiple of annual earnings 159
Figure 4.8. Net pension wealth for lower earners by gender, multiple of annual earnings 161
Figure 4.9. Net pension wealth for average earners by gender, multiple of annual earnings 161
Figure 5.1. Gross pension entitlements of low and average earners with a 5-year unemployment break versus worker with a full career 166
Figure 5.2. Gross pension entitlements of low and average earners with a 10-year unemployment break after entering the labour market 5 years later 166
Figure 5.3. Gross pension entitlements of low and average earners with a 5-year childcare break versus women with two children with an uninterrupted career 168
Figure 5.4. Gross pension entitlements of low and average earners with a 10-year childcare break versus women with two children with an uninterrupted career 168
Figure 5.5. Earnings profile compared to base case, retirement at age 66 170
Figure 5.6. Theoretical relative pensions of the self-employed as a percentage of those of employees 174
Figure 6.1. Uncertainty about total fertility-rate projections 177
Figure 6.2. Current life expectancy at age 65 for men and women, in years, 2022 179
Figure 6.3. Projected remaining life expectancy at age 65, 2065, in years 179
Figure 6.4. Structural breaks in life-expectancy gains 179
Figure 6.5. The working-age population will decline in a large number of OECD countries 181
Figure 6.6. Future demographic old-age to working-age ratio projections differ based on data sources 181
Figure 6.7. Employment rates of workers aged 55-59, 60-64 and 65-69 in 2022 183
Figure 6.8. Gender gap in employment rates by age group, 2022 183
Figure 6.9. Gender gap in pensions in selected OECD countries, latest year available 183
Figure 6.10. Employment rate at ages 60-64 vs. normal retirement age in 2022 185
Figure 6.11. Change in employment rates of older workers and prime-age workers, 2002-22 185
Figure 6.12. Growth of employment rates of older workers by education level 185
Figure 6.13. Average effective age of labour market exit and normal retirement age in 2022 187
Figure 6.14. Average effective age of labour market exit in OECD countries, 1972-2022 187
Figure 6.15. Remaining life expectancy at average labour market exit age, by gender in 2022 189
Figure 6.16. Expected life years after labour market exit, OECD average 1972-2022 189
Figure 7.1. Income sources of older people, 2020 or latest available year 192
Figure 7.2. Income poverty rates by age: older vs. total population, 2020 or latest available year 194
Figure 7.3. Income poverty depth by age: older vs. total population, 2020 or latest available year 196
Figure 7.4. Change in income inequality over time among the older and the total population 198
Figure 7.5. Change in average wage, national currency 200
Figure 8.1. Private expenditure as a percentage of public and private 207
Figure 8.2. Percentage point change in pension expenditure between 2020-22 and 2050 209
Figure 9.1. Minimum or mandatory contribution rates (for an average earner) in mandatory and auto-enrolment plans (unless specified otherwise), 2022... 214
Figure 9.2. Average annual contribution per active account or member in selected OECD countries, latest year available 214
Figure 9.3. Allocation of assets in pension plans in selected asset classes and investment vehicles, at the end of 2022 or latest year available 218
Figure 9.4. Allocation of assets in selected public pension reserve funds in selected asset classes and investment vehicles, at the end of 2022 218
Figure 9.5. Split of pension assets by type of plan, at the end of 2022 or latest year available 222
Figure 9.6. Assets and liabilities of defined benefit plans (in billions of national currency) and their ratio (in percent) in selected jurisdictions, 2012-22 226
Infographics
Infographic 1. Key facts and figures 13
Annex Tables
Annex Table 1.A.1. Pension reform decided between September 2021 and September 2023 63
