Utilising the 2014 Household Income and Expenditure Survey of Korea, this study examined the importance of pension incomes for elderly-headed households in Korea and the influence of other income sources and socio-demographic factors on pension income. It was found that 64.8% of those surveyed received pension income, which accounted for 12.4% of total income on average. As age increased, the importance of pension income increased. Pension income receipt and amount were affected by household size, gender, age, educational level and home ownership. Policymakers could use the factors identified in this research to develop effective and selective pension policies.

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