개인연금자산의 수요와 적정성에 관한 분석

Using the 2009 Korean Retirement and Income Study (KReIS), this study analyses the demand and adequacy of private pension from the sample of pre-retirees younger than age 60 currently working. We investigate the demand of private pension by private pension ownership,estimated total private pension wealth at retirement, and annuitized amount of the private pension wealth. we also investigate the adequacy of private pension by the ratio of the private pension to minimum and appropriate amount of living expenses during retirement, and the ratio of the estimated total private pension wealth to financial assets. Our study shows that the demand and adequacy of private pension increases in the group of younger, highly-educated, and engaged in professional occupations. In addition, this tendency is stronger for those who save money for retirement and have more retirement grants, financial assets,and national pension. Also, there is a tendency that city workers would have less demand and lower adequacy of the private pension. Non-financial assets are partially related to the demand and adequacy of private pension, and health and debts do not have significant effects. In conclusion, educational attainments, age, living area, purpose of savings, and assets are significant determinants for the demand and adequacy of private pension. Especially, the demand and adequacy of private pension are higher for those who save for retirement, have more national pension assets and retirement grants, and more financial assets. Thus, these results imply that a gap between rich and poor will be continued or even bigger for the future retirees.