Social
protection. Almost half the world’s
older persons lack pensions. International Labour Organization, September 30,
2014
ILO report says 52 per cent of
older persons receive a pension, but levels are inadequate and the trend has
been worsened by fiscal consolidation.
News | 30 September 2014
GENEVA
(ILO News) -- Nearly half – 48 per cent – of all people over pensionable age in
the world do not receive a pension, and for many of the 52 per cent who do
coverage is not adequate, says a new report by the International Labour
Organization (ILO).
As a result, the majority of the world’s older
women and men have no income security, have no right to retire and must keep
working as long as they can – often in poorly paid, precarious conditions.
The ILO policy paper “Social Protection for older persons: Key policy trends and statistics”
shows that in recent years many middle and
low-income countries have been rapidly expanding pension coverage through a mix
of contributory and non-contributory, tax-financed social pensions.
The report looks at pension systems in 178
countries. It finds that more than 45 countries have reached 90 per cent
pension coverage and more than 20 developing countries have achieved or nearly
achieved universal pension coverage.
“Many developing countries are boldly
expanding their pension systems -- a very positive trend,” said Isabel Ortiz,
director of the ILO’s Social Protection Department. “But as important as
expanding coverage, is guaranteeing adequate pension benefits. Older men and
women have a right to retire in dignity, without falling into poverty. This is
an issue worldwide.”
How well do countries cover their populations for pensions?
Mouse over the chart to see the values
Remarkable
increases in pension coverage were achieved in only a decade in places like China , Lesotho ,
Thailand , Timor Leste and Tunisia ,
ranging from about 25 per cent to more than 70 per cent of the population. Tax-financed
pensions play a major role in extending pension coverage, as they ensure a
basic level of protection for those not receiving a contributory pension.
Austerity’s effects
According to
the report, fiscal consolidation policies adopted from 2010 onwards have led to
reduced social protection for older persons. Adjustment measures include cuts
in health and other social services, as well as pension reforms such as raising
the retirement age, reducing benefits and increasing contribution rates.
“These
adjustments are undermining the adequacy of pension and welfare systems and
reducing their ability to prevent poverty in old age,” said Ortiz.
“The
long-term liabilities of austerity take time to show up. Depressed household
income levels are leading to lower domestic consumption and slowing down
economic recovery. It is alarming that future
pensioners will receive lower pensions in at least 14 European countries by
2050,” she added.
Social protection as growth strategy
Ortiz explained that the positive impacts of social
protection on both social and economic development, for example through
boosting consumer spending and promoting more inclusive economic growth, have
put social protection at the forefront of the development agenda. Many
middle-income countries are enlarging social protection as part of their
strategy to drive economic growth.
“China,
for example, has achieved nearly universal coverage of pensions and increased
wages,” Ortiz said.
Some
countries, including Argentina, Bolivia, Chile, Hungary, Kazakhstan and Poland,
are reversing the earlier privatization of their pension systems of the 1980s
and 1990s because they were too expensive and did not expand pension coverage.
The full or partial renationalization of these pension schemes aims to reduce
the fiscal costs, to improve pension coverage and old-age income security.
“Public
social security systems with strong social protection floors are essential for
economic recovery, inclusive development and social justice, and therefore must
be an integral part of the post-2015 development agenda,” said Ortiz. “Social
protection in old age is a human right backed by international labour
standards. It also makes good economic sense.”
The
ILO promotes policies and provides assistance to its member states to help
extend adequate levels of social protection to all members of society,
including older persons.
The ILO Social
Protection Floors Recommendation, 2012 (No. 202), which
calls for the extension of social protection coverage, following the principles
of universality of coverage, non-discrimination and gender equality, was adopted by 185 countries and
further endorsed by G20 leaders and the United Nations.
www.ilo.org International
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