Global Social Security Protection

More than half of the world’s population is not covered by any formal social security protection against the risks of old age, death, sickness, work accident and unemployment.

The majority of the more than three billion people without adequate coverage live in developing countries — those most prone to social and economic instability — and this could have serious implications for a world dependent upon sustained economic and social development.

That’s the verdict of the International Social Security Association (ISSA), a Not for Profit, international membership organisation comprised of international social security administrators and policymakers.

The ISSA announced the findings of its four-year Initiative at its 28th General Assembly in Beijing this month.

The ISSA Initiative was launched to expand the global conversation about the benefits and importance of social protection around the world. The Initiative’s Findings come from commissioned research and studies conducted across the world over the past four years.

The Initiative says it uncovered the essential link between economic and social development: that social security plays a pivotal role in stimulating economic and social development by supporting economic growth and fostering social cohesion.

It says social and economic development can and must occur simultaneously – and social security is a key factor for achieving both.

ISSA says the findings of the Initiative underline the crucial role social security plays in today’s world:

– There is an intrinsic link between economic and social development, yet the number of people without such protection continues to rise.
– Effective social security programs can foster social cohesion and boost economic development.
– Many still remain unaware of their right to social protection and the public needs access to clear and unbiased information about the social security choices available to them.

Founded in 1927, the International Social Security Association (ISSA) has more than 380 member organisations in 145 countries, representing people and institutions engaged in the provision of various forms of social protection.

The ISSA is headquartered with the International Labour Office in Geneva, Switzerland, and has regional offices in Africa, the Americas, Asia and the Pacific and Europe.