Efficiency has improved with use of computer/software tools administrative costs are high but declining poor social representation in the administration of the schemes. Elements against social solidarity and gender equity prevail over those favoring those features. Entitlement conditions and benefits diverge significantly among schemes but tend to be generous the real pension has declined due to lack of automatic adjustment mechanism.
Coverage of the labor force and the elderly is low due to large informal sector and poverty incidence as well as other factors. The system is highly segmented with 12 separate schemes that lack coordination. The evaluation is based on six social security principles: unity universal coverage sufficiency of benefits social solidarity and gender equity efficiency, moderate administrative costs and social representation and financial-actuarial sustainability. Major schemes assessed are: civil servants (GSIS), private sector workers (SSS) and the armed forces (AFP-RSBS). Finally, there is a need to examine the increasing operating costs, considering that these are among the highest in the region.ĭescription, analysis and evaluation of several public pension schemes in the Philippines with emphasis on old-age, disability, survivors and occupational hazards. This may include terminating programs which are unlikely to meet the earning requirements for actuarial viability. There is also a need to continuously improve the investment earnings of the reserve funds. The funds are also subjected to continuous political pressure to finance social programs that are of doubtful return and which may not be in line with the long-term nature of the fund`s obligations. There is a continuing threat to sustainability because contributions and benefits are not strongly linked, particularly for the SSS.
The lack of coverage of informal sector workers persists. The paper then lists several reform themes for the country`s social protection system.The paper finds a continuing low coverage of the main bulk of workers-formal private sector wage-workers-even if the system expanded statutory coverage to own-account, overseas, domestic workers, and even housewives. It also provides an assessment focusing on coverage, administration, and management. It describes the social protection institutions and the schemes that have been developed throughout the years. This paper reviews the current state of and challenges facing social protection in the Philippines.
0 kommentar(er)
