Voluntary Savings Schemes to Protect Informal Workers in Jordan
This paper proposes a framework of voluntary savings schemes (VSS) in Jordan that can complement the current formal sector arrangements to better protect informal workers against economic shocks, unemployment, old age, or disability. As benefits of...
| Main Authors: | , , , , |
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| Format: | Discussion Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2022
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/099720104212238548/P1715950c89d850c3080ea09e07fcd87d40 http://hdl.handle.net/10986/37362 |
| Summary: | This paper proposes a framework of
voluntary savings schemes (VSS) in Jordan that can
complement the current formal sector arrangements to better
protect informal workers against economic shocks,
unemployment, old age, or disability. As benefits of
traditional mandatory pension systems worldwide have been
cut substantially since the 1990s, voluntary defined
contribution schemes are increasingly trying to fill the
gap. In many countries, including in low-income countries,
special voluntary savings schemes have been introduced to
protect informal workers. Blending the knowledge from best
practices internationally with the cluster methodology
developed specifically for Jordan, the paper provides an
overview of the current system of social security in Jordan
and presents policy options to lower informality, extend
social protection coverage, and provide more adequate
protection to workers. |
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