Symposium on Income Security for Older Persons in South and South West Asia
ESCAP and the National Institute for Public Finance and Policy (NIPFP) will co-organize a 'Symposium on Income Security for Older Persons in South and South West Asia' in New Delhi on 27 February 2017.
The objectives of the symposium are to: (i) Promote dialogue among key stakeholders in India on options for increasing coverage of pensions in the region and ensuring sustainability of existing pensions systems based upon an ESCAP-commissioned study on income security for older persons in India; (ii) Develop policy recommendations relevant for the context of India to improve the system of providing old-age income security with regards to coverage, benefit level, sustainability and gender-responsiveness; (iii) Identify lessons from other countries in the subregion that could benefit the further evolution and reform of the pension system.
Providing pension coverage for future older generations of older persons will be a future challenge. According to ILO estimates, only 12.4 per cent of people of working age – and only 4.6 per cent of women of working age - are under legal coverage of a pension scheme, whether contributory or non-contributory, mandatory or voluntary. Older women in India are at higher risk of falling into poverty due to their lower labour force participation and thus low coverage by pension schemes. The challenge remains to provide a sustainable and gender-responsive system of old-age income security for a rapidly ageing population.