A society that provides security for its citizens protects them not only from war and disease, but also from the insecurities related to making a living through work. Social security systems provide for basic income in cases of unemployment, illness and injury, old age and retirement, invalidity, family responsibilities such as pregnancy and childcare, and loss of the family breadwinner. Such benefits are important not only for individual workers and their families but also for their communities as a whole. By providing health care, income security and social services, social security enhances productivity and contributes to the dignity and full realization of the individual. Social security systems also promote gender equality through the adoption of measures to ensure that women who have children enjoy equal opportunities in thelabourmarket. For employers and enterprises, social security helps maintain a stable workforce adaptable to change. Finally, by providing a safety net in case of economic crisis, social security serves as a fundamental element of social cohesion, thereby helping to ensure social peace and a positive engagement with globalization and economic development. Despite these advantages, only 20% of the world'spopulation haveadequate social security coverage, while more than half lack any kind of social security coverage at all.

ILO standards on social security provide for different types of social security coverage under different economic systems and stages of development. Social security Conventions offer a wide range of options and flexibility clauses which allow the goal of universal coverage to be reached gradually. In a globalizing world, where people are increasingly exposed to global economic risks, there is growing consciousness of the fact that a broad-based national social protection policy can provide a strong buffer against many of the negative social effects of crises. For these reasons, in 2012, the InternationalLabourConference adopted an important new instrument, theSocial Protection Floors Recommendation (No. 202).

SOURCE:https://www.ilo.org/global/standards/subjects-covered-by-international-labour-standards/social-security/lang--en/index.htm