The Impact of National Old-Age Security Expectations on the Life Satisfaction of the Elderly: The Mediating Effect of Perceived Possibility of Bequest

This study aims to analyze how the perceived possibility of bequest mediates the impact of national old-age security expectations on elderly life satisfaction. Using data from the 2022 Korean Longitudinal Study of Aging (KLoSA) and a sample of 3,630 individuals aged 55 and older, a simple mediation model was applied. The study has found that expectations regarding national old-age security have a positive impact on the perceived possibility of bequest and the life satisfaction of the elderly. Additionally, the perceived possibility of bequest partially mediates this relationship. This indicates that elderly individuals gain life satisfaction not only from their current living conditions but also from considering what they can leave behind for their family and society. The study underscores the importance of ensuring policy stability and continuity in national old-age security systems, as well as developing measures to support asset accumulation for the elderly.