The Impact of Pension Receipt on Life Satisfaction Among the Elderly - Evidence on Public and Private Pension -

Key Points

• This research aims to examine the impact of pension receipt on life satisfaction among the elderly.
• Utilized KLoSA (Korean Longitudinal Study of Aging) data for analysis.
• Employed panel ordered logit model for empirical analysis.
• Examined effects of public and private pensions, both individually and interactively.
• Public pension receipt significantly positively impacts life satisfaction (p<0.05).
• Private pension receipt shows no significant effect on life satisfaction.
• Simultaneous receipt of both pensions has a lesser effect than the simple sum of individual effects.

Abstract