Summary (English)

Namibia faces a number of challenges in reforming and providing for a comprehensive, affordable and sustainable pension system. At present, only about 6 per cent of the population is over 60. The World Bank estimates that this ratio is expected to grow to about 21 per cent over the next few decades. Consequently, the old-age dependency ratio is expected to rise from about 11 to 36 per cent. Existing pension arrangements are not well suited to meet the challenges of an ageing population. The Government is currently addressing these challenges by considering a process of policy formulation, which would take into account the full range of social protection needs, and balances those needs against national resources. Their aim is to create a balance in national policy, between public and social security schemes and individual and private provision, which ensures widespread coverage and achieves the desired level of income redistribution.
In future, the main focus of the Namibian Government with regard to social pensions will be on redistribution.