Provisions of Social Security: A Cross-Country Comparison of Old Age Schemes and Policies


The world is getting older. As better medical facilities lowered the mortality rates, human life expectancy kept increasing. However, as we became more capable in medicine, our family systems degenerated. There has been a perpetual rise of nuclear households all over the world- somewhere faster and more in number and somewhere otherwise. Along with that the sense of respect and duty towards the elderly is on massive low. If not that, the incessant competition for resources and inflation make it tough for even the most respectful beings to take care of their extended families.

Needless to say, the senior section of our society not only needs attention of their respective governments but also potent policies to provide them the social security they deserve. It is the duty of the state to provide all its citizens a safety net and the senior citizens form one of the most vulnerable groups. One measure through which governments all over the world attempt to cover their elder citizens is pension. Pension may be contributory, non-contributory or both.