Almost half the world's older persons lack pensions
ILO News (30.09.14)
Nearly half – 48 per cent – of all people over pensionable age in the world do not receive a pension, and for many of the 52 per cent who do coverage is not adequate, says a new report by the International Labour Organization (ILO).
As a result, the majority of the world’s older women and men have no income security, have no right to retire and must keep working as long as they can – often in poorly paid, precarious conditions.
The ILO policy paper “Social Protection for older persons: Key policy trends and statistics” shows that in recent years many middle and low-income countries have been rapidly expanding pension coverage through a mix of contributory and non-contributory, tax-financed social pensions.