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Ageing, inequality and the fight for retirement security pmassetti LSE Business Review (25.03.2026) Planning for retirement is one of the biggest financial commitments most people will make in their lifetimes. But our ability to do so depends on our wage, age, gender, financial literacy, location and, above all, confidence in investing. Sophia Dancygier explains why the retirement income divide is not just a financial problem but a social imperative. Pensions
Working Paper : Social protection in South Africa pmassetti wider.unu.edu (2026) South Africa has a relatively well-developed social protection system for a middle-income country. Despite its roots in the country’s racially discriminatory past, the system has been repurposed post-apartheid to address deep poverty and severe inequality. This paper explores key characteristics of the current social protection system, highlighting its large scale and reach. Given high unemployment, the scope of social insurance is relatively limited and the social protection system is largely geared towards social assistance. Social assistance is well-targeted and has been found to have significant beneficial impacts on poverty and inequality, but also various other socioeconomic outcomes.  A key gap in the formal social assistance system is the working-age population: able-bodied working-age adults are covered only by the COVID-19 social relief of distress grant, the introduction of which has reignited calls for the implementation of basic income support despite South Africa’s significantly constrained fiscal environment. south africa
Zambia 2024: Why Climate Crisis Is Forcing Social Policy Reform pmassetti jls-consulting.org (19.03.2026) On 29 February 2024, Zambia declared a national disaster. The El Niño-induced drought had pushed over 9 million people into deepening insecurity across 84 districts. One of the drought’s policy lessons was not only that households needed more support, but that support had to move across sectors faster than the system was designed to do. Agriculture, nutrition, health, energy, education, protection, and public finance were all simultaneously under stress. Systems built sector by sector are not equipped for a shock that moves across all of them at once. In an era of rising climate volatility, poverty reduction depends less on the scale of emergency response than on the continuity and integration of essential services. This challenge  requires a structural response: a minimum integration pathway that enables households to move across services without being lost at the intersections between programmes. Shocks & extreme events zambia
China launches national long-term care insurance program pmassetti Chinadaily.com.cn (26.03.2026) China has formally launched a national long-term care insurance program after a decade of pilot programs, establishing what it calls a "sixth pillar" of social security to ease the burden on families caring for a rapidly aging population. The framework, issued in a joint guideline by the general offices of the Communist Party of China Central Committee and the State Council, sets a three-year target to build a unified system covering the entire population, regardless of employment status. It follows pilot programs that have covered more than 3.3 million disabled individuals and reduced caregiving costs by over 100 billion yuan ($14.5 billion), according to official data. The insurance is designed to provide services and financial support for daily and medical care for people with sustained disabilities, typically lasting six months or more. The rollout will start with severely disabled individuals and expand over time. Long-term care china
Ageing like China: China’s pension reform debate enters a new phase pmassetti cepr.org (21.03.2026) China is undergoing a sharp demographic transition: rapid population ageing, a shrinking labour force, persistently low fertility, and continued urbanisation. Using an overlapping-generations framework, this column shows that the demographic transition is a joint growth and fiscal headwind: the economy slows just as ageing-related spending pressures intensify. A recent retirement age reform mitigates some of the economic and fiscal pressures. However, a credible long-run strategy likely needs a comprehensive approach: sustainability levers, targeted adequacy improvements, and continued efforts to reduce fragmentation and strengthen portability as urbanisation continues. Pensions china
China ensures easy, equal access to childcare subsidy pmassetti english.scio.gov.cn Chinese officials elaborated on the country s landmark childcare subsidy program at a press conference Wednesday, noting that the subsidy applies equally to first, second, and third children, regardless of household registration, ethnicity or location.  Earlier this week, China announced the nationwide subsidy program offering cash support to families raising children under the age of three, marking a significant step in the government s efforts to ease the cost of childrearing and encourage higher birth rates. Starting January 1, 2025, families with children under three will receive an annual subsidy of 3,600 yuan (about US$503) per child until the child turns three. For children born between January 1, 2022, and December 31, 2024, subsidies will be granted on a pro-rated basis according to the number of eligible months.
How Will Changing Eldercare Needs Impact Indonesia's Workforce? pmassetti worldbank.org (18-02-2026) Indonesia’s population is aging, signaling both challenges and opportunities for the nation’s workforce. The old-age dependency ratio, the proportion of elderly to the working-age population, is expected to more than double over the next quarter of a century, from 11.0 percent in 2025 to 22.8 percent in 2050. Higher dependency ratios are associated with lower economic growth, and aging populations can lead to higher medical expenses and a shrinking workforce. Although formal eldercare systems are expanding, most elderly people in low- and middle-income countries rely on family-based care, which hinders caregivers' labor supply, particularly women. At the same time, healthy elderly often contribute to unpaid childcare and domestic work, which frees time for younger individuals to work. While previous studies suggest that the continued engagement of elderly in the labor force could enhance overall productivity, including that of younger workers, emerging evidence casts some nuances. Older workers could limit opportunities of younger workers when older and younger workers exhibit substitutable skills. Global evidence suggests that the continued engagement of elderly in the labor force can both limit opportunities for younger workers and enhance overall productivity. Given the complex relationship among aging, care, and market work, country-specific analysis is needed to guide policy decisions to minimize the risks and harness the opportunities of aging for the workforce. This report explores how the aging population shapes the eldercare needs and the workforce needs to inform the policy dialogue on Indonesia’s care economy. It provides descriptive evidence of the magnitude of both the financial and nonfinancial support that elderly Indonesians require and how these needs have shifted over time. It also presents information on how eldercare needs are currently met and unpacks the relationships among aging, care provision, and labor market outcomes. It does not provide a comprehensive analysis of aging’s effects on the economy; it focuses instead on the nexus of aging, care, and work. The report aims to inform the implementation of Indonesia’s strategic goal of strengthening care systems by identifying the challenges of current eldercare arrangements and reviewing the evidence of promising solutions. Old-age pensions indonesia
Gender equality requires inclusive and responsive social health protection policies pmassetti ilo.org (02.03.2026) A new ILO policy brief highlights that gender must be a core consideration in the design and implementation of social health protection schemes. Health, Gender equality
Progress and challenges in advancing care policies in Latin America pmassetti This article traces the evolution of care in Latin America from concept to political agenda to their institutionalization as national care systems. Rooted in gender equality agendas and supported by sustained feminist mobilization, care agendas in the region have advanced significantly, reframing care as a public good and a right. Latin American countries have pioneered comprehensive care systems—Uruguay’s 2015 law marking the first of its kind—followed by Brazil, Colombia, and proposals in Argentina, Chile, and Mexico. These initiatives’ standpoint is considering unpaid caregivers and care workers, as well as care receivers, as right holders. They address the unequal distribution of unpaid care work and ensure decent working conditions for care workers. Drawing on and contributing to the international development of policy frameworks such as the sustainable development goals (SDGs) and the International Labour Office (ILO)’s 5Rs, the region has developed a distinctive approach to care policies that blends regional and international agreed principles with local context, including intersectional and intercultural dimensions. The article emphasizes the role of political commitment, participatory governance, and sustained public investment in achieving universal care systems. Despite uneven progress, Latin America offers a model for transformative care policies firmly anchored in rights-based policy frameworks and based on cross-sectoral coordination, established by law.
China outlines strategy to address aging society pmassetti news.cgtn.com (05.03.2026) China will advance a proactive national strategy in response to population aging, according to the government work report submitted on Thursday to the country's top legislature for deliberation. The report prioritizes elderly care services in rural areas. Minimum basic old-age benefits for rural and non-working urban residents will be raised, and the country's unified national management system for basic old-age insurance funds will be scaled up. Old-age pensions china
Growing old without security: rethinking pensions and social security in Nigeria pmassetti developmentpathways.co.uk (february 2026) Nigeria faces a growing old age poverty risk as most workers, especially in the informal economy, lack reliable pension coverage. In this Perspective, Pietro Bonanome, Social Protection Specialist at Development Pathways, argues that the voluntary Micro Pension Plan and heavily targeted safety-net approach leave a large group of Nigerians without protection. He calls for a phased universal old-age pension, showing that international experience demonstrates such schemes are affordable and effective. The author concludes that Nigeria’s main constraint is political will, not fiscal feasibility, and urges a shift toward universal social security. Pensions nigeria
Intervention Model: How to extend social protection to migrant workers, refugees and other displaced persons in the context of climate change? pmassetti ilo.org(25.02.2026) This Intervention Model aims to provide policymakers and practitioners with succinct practical guidance on how to extend social protection to migrant workers, refugees and other displaced populations so as to protect them against the adverse effects of climate change, while also benefiting from a just transition. The intervention model includes a brief overview of the obstacles, the international legal framework, and a set of proposed policy options based on existing country practices and international labour standards. Migration, Environment and climate change
Inclusive Pensions for an Aging World: Evidence and Strategies for Engaging Informal Workers pmassetti cgap.org (February 2026) This Working Paper reviews how different countries have designed pension schemes for informal workers. It focuses on contributory schemes for the “missing middle”: informal workers who have sufficiently stable incomes to save for old age but lack access to suitable pension options. The paper draws upon public documentation and literature on how to target and scale pension schemes for informal sector workers. Pensions, Extension of coverage
UK: Why raising NHS spending on new drugs by 25% is the wrong decision – health economist’s view pmassetti theconversation.com (05.02.2026) For nearly three decades, decisions about which medicines the NHS pays for have not been made by ministers, but by the National Institute for Health and Care Excellence, known as Nice. Its job has been powerful: to act as a check on the pharmaceutical industry by demanding evidence that new drugs are clinically effective and worth the price, protecting NHS budgets from spiralling costs. Health united kingdom
30 Years of Social Targeting in Colombia: From Sisbén to the Social Registry of Households: Case study on the System for the Identification of Potential beneficiaries of Social programs and the Social Registry of Households pmassetti iadb.org (August 2025) The System for the Identification of Potential Beneficiaries of Social Programs (Sisbén) is Colombias main instrument for targeting social policies. To date, Sisbén has gone through four versions and uses statistical tools and techniques to identify and rank the population according to their socioeconomic situation. Recently, Colombia began the transition from Sisbén to the Social Registry of Households (Registro Social de Hogares, RSH). This transition entails moving from a tool based on socioeconomic surveys to a system that seeks to capture the socioeconomic situation of the entire population through interoperability with administrative records (CONPES 2016) and to integrate an analysis of the social service supply (Decree 812 of 2020, Article 2). From its beginnings in 1994 to the present, Sisbén has progressively strengthened its methodology, operations, and technology, enabling the transition to a more ambitious instrument such as the RSH. Information and communication technology colombia
What Works for Work: A Guidebook to Proven and Promising Employment Solutions pmassetti worldbank.org (22.01.2026) Governments in low- and middle-income countries (LMICs) face growing pressure to create jobs amid shrinking fiscal space and weak growth prospects. Employment solutions - like active labor market programs (ALMPs), regulatory reforms, or alignment of social programs - are effective tools to address these challenges. Recent years have seen a strengthening evidence base for employment solutions, with rigorous evaluations indicating that well-crafted programs can achieve impacts that far exceed earlier interventions. This guidebook reviews those high-performing employment solutions and distills lessons on how to replicate them. It draws from more than a hundred successful programs and reforms implemented in diverse settings, showing that targeted and well-designed solutions can quickly make a difference in many different contexts. Employment policies
Tanzania: PM’s office to launch social protection policy, NISS pmassetti dailynews.co.tz THE Prime Minister’s Office – Labour, Employment and Persons with Disabilities is set to launch the National Social Protection Policy of 2023 and the National Social Security Scheme for Self-Employed Persons in the Informal Sector (NISS) in Arusha today. According to a statement issued by the Government Communications Unit in Dodoma over the weekend, the event will also provide a platform for stakeholders to review progress and explore opportunities within the social protection sector. The event, themed “Social Protection for All: A Foundation for Development,” is expected to bring together about 1,200 stakeholders from Mainland Tanzania and Zanzibar. The National Social Security Scheme for Self-Employed Persons in the Informal Sector is an initiative of the National Social Security Fund (NSSF) aimed at extending social security benefits to self-employed individuals and informal sector workers. Extension of coverage tanzania
China: Job stability key to hiking social security pmassetti chinadaily.com.cn (26.01.2026) Experts have called for collaborative efforts from government, online platforms and society to improve social insurance coverage for people in new forms of employment — such as ride-hailing drivers and food delivery workers — to better safeguard their livelihoods. Earlier in December, the annual Central Economic Work Conference held in Beijing clarified that flexible workers and people in new forms of employment are encouraged to enroll in the regular employees social insurance program. According to the Ministry of Human Resources and Social Security, there are more than 200 million flexible workers nationwide. Platform workers china
India: NPS drives pension expansion, but coverage remains limited amid informality: Economic Survey 2025 26 pmassetti businesstoday.in (29.02.2026) According to the Survey, the dominance of informal employment continues to shape the contours of India’s pension challenge. A large share of workers operate outside stable, salaried arrangements, making it difficult for them to commit to long-term, locked-in pension products, even when contribution amounts are modest. Pensions india
Goodbye to Retirement at 60 in the South Africa pmassetti Pension Policy International (29.01.2026) South Africa has officially moved away from the traditional default retirement age of 60, with new pension regulations taking effect from early January 2026, reshaping retirement planning for millions of workers. This shift addresses rising life expectancy, pension fund sustainability, and economic pressures, allowing retirement ages to be set by employment contracts and fund rules rather than a fixed benchmark. Pensions south africa
China Focus: China introduces national subsidy for elderly care services to foster senior-friendly society pmassetti Xinhua (22.01.2026) China has rolled out a nationwide subsidy program to support elderly people with disabilities who purchase care services, authorities announced Thursday, as part of efforts to ease family burdens and build a more senior-friendly society. The vouchers, worth up to 800 yuan (about 114 U.S. dollars) per person per month, can be used to cover a wide range of services such as meal assistance, bathing assistance, housekeeping assistance, mobility support, emergency aid, medical assistance, rehabilitation nursing, and daytime care. Old-age pensions china
Asia in the longevity era. How can we rethink wealth in a 100-year life? pmassetti World Economic Forum (19.01.2026) For Asian countries in an aged-society stage, this demographic shift brings profound implications for how people are supported through longer lifespans. Just as a CFO manages risk and plans strategically, individuals must take a more active role in building financial resilience. The true success of a 100-year society lies not only in extending lifespan but in extending dignity, contribution and meaning. Pensions Asia
Labour Ministry proposes 90-day annual work threshold for gig worker social security pmassetti thehindu.com (04.01.2026) The four labour codes, including the Social Security Code 2020, were notified on November 21, 2025, and now draft rules have been pre-published for stakeholders's feedback
From cash to code: the evolution of social payments in Kenya pmassetti developmentpathways.co.uk (January 2026) In this paper, Richard Chirchir and Paul Njoroge Mwangi explore Kenya’s journey from cash to code, showing how digital payments have reshaped social protection programmes. The paper describes how Kenya transitioned from manual cash disbursements to fully digital, mobile money-based social payments. It also explains the key policy, institutional, and technological decisions that enabled this transformation, and highlights practical lessons for policymakers and digital technology experts designing efficient, inclusive, and resilient payment systems for social protection. E-services kenya
Chile: Senate Advances Bill to Prevent Convicted Individuals from Receiving Survivor Pensions for Femicide and Domestic Violence pmassetti elciudadano.com (08.01.2026) The initiative specifies the mandate for courts to report domestic violence convictions to the Superintendence of Pensions, which will relay this information to Pension Fund Administrators (AFP) and insurance companies. Minister Antonia Orellana highlighted the bill's scope during the session. Pensions chile