Social Security: Issues, Challenges and Corrective Measures

Abstract

In many parts of the world, in the closing years of the 20th century, social security systems have been under challenge. Some consider that the systems are too expensive, and that they harm the process of economic growth and development. Others point to deficiencies in the level of protection and the scope of coverage, and argue that in times of increased unemployment and other forms of labour insecurity, social security is more needed than ever. Particularly in the industrialised countries, social security systems must respond to new demographic challenges, such as ageing and changing family structures, with important implications for the financing of social protection. In some countries, there is dissatisfaction with the administration of social security, and calls for reform involve a review of the role of the State, the responsibilities of the social partners and the desirability of greater participation of the private sector.