Economic support in old age: The role of social insurance in developing countries

Abstract

The origins of social insurance in industrialized and developing countries are discussed. In recent years social insurance programmes in many developing countries have come under sharp attack. Major issues have been raised with regard to how these programmes are operating, especially with regard to problems of inadequate coverage, adequacy and equity, shortfalls in financing, and administrative mismanagement. In addition to discussing these problem areas, the article reviews the major social insurance options: the family, social assistance, employer sponsored pensions, and savings plans encouraged or operated by governments.