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Determinants of Households’ Intention to Take Out or Convert to a Trust-Type Home Pension: Evidence from South Korea

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  • Kyung-Jin Choi
  • HeuiJu Chun
  • Dong-Hwa Lee

Abstract

This study analyzes the determinants of Korean households’ intention to take out a trust-type home pension (Korean reverse mortgage) or switch from a collateral-type home pension to a trust-type home pension. Using a proportional odds logit model, we analyzed 2018 survey data on home pension demand. Trust-type home pension enrollment is most significantly influenced by homeowners’ relationship with children after enrollment, followed by homeowners’ need for retirement-related financial education. The presence (or absence) of a homeowner’s spouse most significantly influenced conversion intention, affirming that for homeowners with a spouse, their priority in pension selection was securing their spouse’s future entitlement.

Suggested Citation

  • Kyung-Jin Choi & HeuiJu Chun & Dong-Hwa Lee, 2023. "Determinants of Households’ Intention to Take Out or Convert to a Trust-Type Home Pension: Evidence from South Korea," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 59(5), pages 1538-1553, April.
    • Handle: RePEc:mes:emfitr:v:59:y:2023:i:5:p:1538-1553
    DOI: 10.1080/1540496X.2022.2147781
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