Research in Brief
The Child Benefit: Its Usage and Improvement Options
- Author
Lee, So-Young, Yi, Jihye
- Volume
122
- PubDate
2024-06
- Pages
1-7
Implemented in September 2018 pursuant to the Child Benefits Act, the Child Benefit was initially paid to families in the bottom 90 percent of the countable-income distribution for children under 6 years of age. The Child Benefit was made universal in January 2019 and extended further in January 2022 to cover children up to 7 years old. Survey findings suggest that families primarily allocate the child benefits they receive toward expenses such as food and snacks, followed by purchases of baby-and-child items, savings, insurance, investment, and stocks for the child, as well as fees for private early education. Recipients gave the Child Benefit an overall satisfaction score of 5.7 on a 10-point scale, slightly above the midpoint. In addition, over 50 percent of respondents reported that the Child Benefit had a positive influence on their decision to have children. For the Child Benefit to better serve as a means of promoting the fundamental rights of children and as an effective response to low fertility situations, it should be made available to children over a wider age range and paid in increased amounts.
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