Effects of social protection and occupational pensions in Kerala: A study from Kasaragod district

N Karunakaran,Shilpa C

doi:10.18231/j.jmra.2020.008

Abstract

Old age social security plays a pivotal role in welfare state and one of the major components of it is pension. The developed countries generally provide pension to those who contribute for pension whereas in majority of the developing countries pensions are provided in a discretionary manner which reduces the coverage of pension. Pensions are essential to ensuring rights, dignity and income security for older persons. The right to income security in old age, as grounded in human rights instruments and international labour standards, includes the right to an adequate pension. However, nearly half of all people over pensionable age do not receive a pension and many are not adequate. As a result, majority of world’ solder women and men have no income security, have no right to retire and have to continue working as long as they can. The main purposes are mitigating longevity risks, poverty and inter intra-generation inequality. The present study analyzed the social protection and occupational pension schemes and its effectiveness in the rural households of Kerala. Keywords: Effects, Social protection, Occupational pensions, Rural households, Kerala.

Highlights

Social protection consists of policies and programmes designed to reduce poverty and vulnerability by promoting efficient labour markets, diminishing people's exposure to risks and enhancing their capacity to manage economic and social risks, such as unemployment, exclusion, sickness, disability and old age
A pension may be defined as benefit plan, where a fixed sum is paid regularly to a person or a defined contribution plan under which a fixed sum is invested and becomes available at retirement age (Simon Stellen, 2011)
A pension created by an employer for the benefit of an employee is commonly referred to as an occupational pension

Summary

Introduction

Social protection consists of policies and programmes designed to reduce poverty and vulnerability by promoting efficient labour markets, diminishing people's exposure to risks and enhancing their capacity to manage economic and social risks, such as unemployment, exclusion, sickness, disability and old age. Kerala is known for its widespread and popular social security schemes especially for the aged They constitute about half of the elderly (49 percent) in the state. At present the state Kerala is having 40 social security schemes implemented either directly through government departments or welfare boards.

Methods

Results and Discussion

Conflict of Interest