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A Comparative Analysis of the Pension Schemes for Elderly Population in Developing Countries: Policy Insights in the Context of financial wellbeing and social justice
Version 1
: Received: 23 January 2024 / Approved: 24 January 2024 / Online: 25 January 2024 (01:55:46 CET)
How to cite:
Khai, T. S.; Jacob, N. O.; Khan, A. W.; Asaduzzaman, M. A Comparative Analysis of the Pension Schemes for Elderly Population in Developing Countries: Policy Insights in the Context of financial wellbeing and social justice. Preprints2024, 2024011756. https://doi.org/10.20944/preprints202401.1756.v1
Khai, T. S.; Jacob, N. O.; Khan, A. W.; Asaduzzaman, M. A Comparative Analysis of the Pension Schemes for Elderly Population in Developing Countries: Policy Insights in the Context of financial wellbeing and social justice. Preprints 2024, 2024011756. https://doi.org/10.20944/preprints202401.1756.v1
Khai, T. S.; Jacob, N. O.; Khan, A. W.; Asaduzzaman, M. A Comparative Analysis of the Pension Schemes for Elderly Population in Developing Countries: Policy Insights in the Context of financial wellbeing and social justice. Preprints2024, 2024011756. https://doi.org/10.20944/preprints202401.1756.v1
APA Style
Khai, T. S., Jacob, N. O., Khan, A. W., & Asaduzzaman, M. (2024). A Comparative Analysis of the Pension Schemes for Elderly Population in Developing Countries: Policy Insights in the Context of financial wellbeing and social justice. Preprints. https://doi.org/10.20944/preprints202401.1756.v1
Chicago/Turabian Style
Khai, T. S., Abdul Wali Khan and Muhammad Asaduzzaman. 2024 "A Comparative Analysis of the Pension Schemes for Elderly Population in Developing Countries: Policy Insights in the Context of financial wellbeing and social justice" Preprints. https://doi.org/10.20944/preprints202401.1756.v1
Abstract
The rapid growth of the elderly population is a major global demographic and social issue. Unfortunately, there is a shortage of pension plans and social se-curity programmes for this population in developing countries which has severe consequences for their quality of life and planetary health (PH) wellbeing. In this article, we aimed to better understand the pension systems in Ghana, Pakistan, and Myanmar, by reviewing the official government materials (such as pension reports) and published literature. We observed several policy implementation gaps and inequity in pension schemes for older people, specifically for informal and private sector workers. Considering the size of formal versus informal economies and the level of development index of each country, we suggest a wide variety of options in pension policies, financing, designing cash benefits and pension payments to cover all older citizens. This article addresses an unmet need of the elderly people, their wider environmental and economic sustainability to ensure social justice and resource utilization. The governments of developing countries should embrace and establish unique, inclusive, and friendly policies encompassing the informal sector to warrant older adults’ functional and planetary wellbeing with dignity and honor.
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
