UNIVERSAL ACCESS TO OLD AGE INCOME
We help to prevent and reduce poverty among older people who currently work in the informal sector of developing countries and do not have a pension or government support and furthermore all further actions related or conducive to it.
OLD AGE POVERTY
Dozens of developing countries around the world lack a social security net for the people that work in the informal economy (self-employed people), which often comprises around 70%-80% of those economies. It is expected that in 2050 more than 2 billion people will be older than 60.
These people have a higher life expectancy. Life will become more expensive because of health costs, while the joint family support systems are breaking up. Pension products for these groups are very limited, resulting in many people falling back into poverty after their working life.
“Pensions are critical to reducing extreme poverty and the benefits of pensions reach beyond the individual recipient into the family, helping children and grandchildren” (UN’s Independent Expert on human rights and extreme poverty, Magdalena Sepúlveda).
© 2021 Informal Sector Pensions