Social security systems throughout the world are faced with unprecedented challenges in response to growing criticisms about unacceptable expenditures for government programs and questions about the appropriate role of government in providing social protection through social insurance and social assistance programs. The challenges are also a result of dramatic demographic, social, and cultural changes around the world. A variety of radical and modest reform measures are currently being discussed which have the potential of significantly impacting the means of income and health care for the...

One measure of public program response to rapidly expanding older populations is the approach to old-age pensions under social insurance, social assistance, and provident fund systems. Social insurance is clearly the preferred method of meeting the income needs of the elderly, but historical, as well as current social and economic conditions are forcing many nations to reevaluate the characteristics of viable and sustainable social insurance programs. This has led to a variety of innovations in old-age pension programs development, including revised benefit formulas, raised retirement...