了解老年人的收入保障

Rethink Social Protection and Jobs in anActively Aging World What are the main contributors to income security at older ages?Income securityis a common concern for older adults globally as their capacity to earn work incomediminishes. The most important income sources for older people are: (i) continued work; Why should policy makers care?In emerging economies where societal aging is rapid,there are serious concerns that current and future older populations are poorly preparedto achieve income security throughout old age. These concerns are reinforced by smallerfamily sizes, changing living arrangements, and shifting social norms which risk undermininginformal sources of support. In addition, financial literacy and inclusion often remaininadequate, resulting in low lifetime savings and poor planning for people’s older years. Inthis context, the role of the state in promoting financial security for older people will need What does this note cover?The note first discusses the main pillars of financial securityat older ages before focusing on the status of contributory and noncontributory (orsocial) pension systems in developing countries. It highlights worrying under-coverage ofcontributory pension systems in the face of persistent labor market informality, as well asthe rise of social pensions and innovative informal sector matching schemes in response,and the trade-offs between coverage, adequacy and sustainability of pension systems. It Contents Understanding Income Security for Older Adults1 Income Sources for Older Adults across Regions1Role of Contributory and Non-Contributory Pensions in Old Age Financial Protection5Contributory Coverage Expansion Challenges, Promise of Voluntary Schemes, and Growth of What the WB is Doing on Income Security for Older Adults11Learning from World Bank Engagements on Income Security in Old Age and Looking Ahead14 References understanding incomesecurity for older adults Growing old is a predictable human reality that most of us will undergo and is a triumph ofdevelopment attributable to remarkable improvements in medicine, health, and incomes.This note focuses on understanding income security for older adults, while other notes in thisseries look at areas such as long-term care and work at older ages. Specifically, this note Income Sources for Older Adults across Regions Income security is a concern for older adults as their capacity to earn income through workstarts to diminish.Four of the most important income sources for older people are: (i) familysupport; (ii) continued work; (iii) income from assets accumulated during their lifetimes; and(iv) benefits received through their employer or through government programs, financedeither through general government revenue or through social contributions. The income needs Support from family, continued work, and income from physical and financial assets wereprevalent sources of income security for older adults until the twentieth century in rich over time, the large majority of older adults in developing countries still live with other familymembers: over 80 percent of them in the South Asia and Sub-Saharan Africa regions and overtwo-thirds in the East Asia and Pacific, Middle East and North Africa, and Latin America andthe Caribbean regions.2This contrasts with the OECD pattern where only around one-third ofolder adults are co-resident with adult children. However, co-residence rates tend to fall witheconomic development resulting in shifting family structures, generational splits, migration, Further, some older adults have accumulated assets over their lifetime which can provideincome at older ages.In addition to financial assets, some elderly rely on income from rentingout real estate and land, and/or generating income from livestock, and/or selling other assets.For instance, in Pakistan (where almost 90 percent of employment was informal in 2017), for many people as they age, large numbers also enter older age saddled with significant debtor, as in the case of Singapore’s Central Provident Fund scheme, the use of pension savings forhousing leaves most individuals ‘asset rich but cash poor’ in retirement (Stewart et.al, 2019). The role of pensions and other public transfers in providing income support at older agesvaries substantially between high income and developing countries.In OECD countries,there is variation in the share of pension income in total income at older ages, but pensionsare consistently the single largest source of income for people 65 and older in all but a fewcountries (Mexico, Republic of Korea, and Chile), with work also a significant source of support A further crucial consideration for countries operating with limited fiscal revenue is therelative poverty rates of older people.Figure 3 shows that in every World Bank region, theaverage regional poverty rate among those 65 and older is lower than that of the general relative to average income, has reduced elderly poverty dramaticall