Social security has to do with the protection that a society provides to individuals and households to ensure access to health care and to guarantee income security, particularly in cases of old age, unemployment, sickness, invalidity, work injury, maternity or loss of breadwinner. According to the International Labour Organization (ILO) and UN instruments has clearly defined social security as a basic human right, of which only a small proportion of the people on our planet actually enjoy. Only about 20% of the world’s population has adequate social security coverage, with more than half lacking any kind of social security protection at all. Those that lack coverage tend to be part of the informal economy – they are generally not protected at old age by social security, and cannot afford to pay their health care bills. Many people also have insufficient coverage, meaning that they lack significant elements of protection (such as health care or pension) or that the protection they have may be low or declining. The most vulnerable groups outside the labor force are people with disabilities and old age who cannot count on family support, and those not able to make provisions for their own pensions. The paper looks at the merits, demerits, challenges, and the future prospects of social security.
Social security, pension, human rights, climate change, poverty, social security administration
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