Social security: How about extending coverage and raising benefits?

SOCIAL SECURITY is a fundamental human right. As a social protection program, it has a long history of helping to alleviate the impoverished condition of the needy and the poor in many countries. At present, both developed and developing economies have a social security system.

Social security systems are essentially political make up, and the bases of many national social security programs that were mostly designed for the family structures, social needs, and life-cycle risks of populations of industrial countries (Matijascic and McKinnon, 2014). In many countries, the common scope or coverage of the social security under the social insurance, mandatory individual account, and social assistance system programs are old age; disability and survivors; sickness and maternity; work injury; unemployment; and family allowances. In the Philippines, neither the Social Security System (for the private sector) nor the Government Service Insurance System (for the provide sector) provides unemployment insurance.