| 摘要: | 因國人平均餘命遞延且逐漸邁向高齡化社會，加上通貨膨脹、薪資停滯不前以及政府維持低利率、年金改革等，使國人對於退休生活感到恐慌及憂心，政府因此推行「以房養老」政策來解決相關社會問題，故本研究主要探討「逆向抵押貸款」的起源及實際的案例分析。
本研究運用PEST分析從政治/政策環境因素、經濟環境因素、社會環境因素、科技環境因素等四個不同層面探討「以房養老」對於台灣的影響及發展，且針對獨居老人、教授、家管、房東等四個個案，進行質性研究的探討，依據不同客戶個案的背景分析，了解需求目的並經由銀行評估，規劃架構訂定方案，其中教授、家管、房東採用「理財產品搭配房貸」達到「資產活化」滿足「以房養老」的最終目的，獨居老人則是採用「逆向抵押貸款」滿足基本生活所需，最後再進行客戶訪談及回饋做為小結，探討個案客戶真實的回饋，並經由個案規劃作為彙整結論與建議。
本研究結論分別針對「理財產品搭配房貸」及「逆向抵押貸款」的適合性做出分析，經由過去績效分析，以及配息紀錄做為參考，確實每個月配息的金額扣除房貸的利息還有多餘的資金可做運用，但相對也要考量理財產品本身設計的架構及風險。對於「逆向抵押貸款」個案，雖然每個月將有生活費可以領取，但隨著科技及醫療設備發達，生命遞延後仍還是會面臨價值金歸零等問題，因此承做時要確保承做人清楚架構，避免未來爭議。本研究提出後續研究方向建議，宜針對「理財產品搭配房貸」以增加承受風險及期望報酬做為新的研究議題，以及如何改善「逆向抵押貸款」的架構，如因承辦人壽命太長而有其他的替代方案等。;Due to extend the expectation of life, Taiwan gradually turn into an aging society. Plus inflation, stagnant wages, the government′s maintenance of low interest rates and annuity reforms, etc, all are making people panicked and worried about their retirement. So the government launched a house for pension program to solve the social problems. This research mainly investigates how people can employ reverse mortgage and mortgage-turning-into investments in capital markets to support their retirement.
This research uses PEST analysis which include four different levels: political factor, economic factor, social factor and technological factor to explore the impact and development in Taiwan by implementing the house for pension program. I explore qualitative research by using four cases, an elderly living alone, professor, a housewife, and a landlord. According to background analysis of different customers cases to understand the purpose of the demand, and construct the plan through back evaluation. The professor, household, and landlord adopt "financial products with mortgages" to achieve "asset activation" to meet the ultimate goal of the "household pension". Second the elderly living alone use the "reverse mortgage" to meet the basic needs of life. And lastly I conduct customers’ interview and get feedback as summer to discuss the true feedback of each customer. Through these cases plan the conclusion and recommendations.
The conclusions of this study are respectively analyzed for the compatibility of "financial products matching mortgage" and "reverse mortgage". Based on past performance analysis and interest record, if the amount of interest per month is deducted from the interest of mortgage, it′ll have extra funds available for use. But it also need to consider the structure of the wealth management product design and risks. For the "reverse mortgage loan" case, although there will be a living allowance for each month, here will still be problems such as zero value after the deferred life even with the development of technology and medical equipment. Therefore, it is necessary to ensure the undertaker understanding the structure to avoid the future disputes. This study proposes follow-up research directions, it′s advisable to focus on "financial products matching mortgage" to increase risk tolerance and expected rewards as a new research topic. And how to improve the structure of "reverse mortgages", such as because the contractor has a long life span then it′ll need another alternatives, etc. |
