국민연금법 개정의 소득분배 및 노동공급 효과 분석

This study has examined the effect of both the income distribution and the labor supply resulting from the national public pension act revised in July, 2007, in terms of life-time income, with the individual data of the 1-9th KLIPS. Several findings emerge from estimation results. First, the revised national pension act cut down the pension in all classes, in the absolute terms, but the income distribution effect is a little bit deteriorated by Gini index. It implies that the averaging effect from the abolition of the standard monthly income scheme and the upward adjustment of the income ceiling system, offsets the positive income distribution effect from the income replacement ratio reduction. Second, estimation results for factors of determining the labor supply says that the expected pension income has a statistically significant and positive impact on determining the labor supply and thus revised act affects the labor supply decision negatively. Even if the revised act has little effect on the labor supply function, the marginal effect by estimating the labor supply function makes the probability of supplying the labor force lessen by approximately 1.12%. Also, it is estimated that its probability decrement increases in accordance with the income level.