First published in 1948, the International Social Security Review is the principal international quarterly publication in the field of social security.

Articles by leading social security experts around the world present international comparisons and in-depth discussions of topical questions as well as studies of social security systems in different countries, and there is a regular, comprehensive round-up of all the latest publications in its field.

The International Social Security Review is also available in French, Spanish or German.

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International Social Security Review Editorial Board

Current issue: Article abstracts

Volume 63 Issue 2 (April/June 2010)

 
The impact of the 2007‐2009 crisis on social security and private pension funds: A threat to their financial soundness? (pp. 5 - 30)

Social security and pension funds were affected on an unparalleled scale by the recent financial crisis. They reported massive unrealized investment losses and their governance mechanisms have been challenged, therefore endangering their financial soundness and questioning their capacity to deliver adequate benefits. The year 2009 ended with financial markets recovering, but also with portfolio reallocations and traditional risk management approaches being revisited. Governments have reacted to the crisis and implemented recovery plans that could issue a warning about the mid‐term fiscal situation. Post‐crisis fiscal stress may generate a trade‐off between a re‐establishment of a sound fiscal situation and a reduction in social expenditure. This article analyses the impact of the crisis on social security and pension funds and address all the aforementioned issues.

 
The impact of the global financial crisis on social protection in developing countries (pp. 31 - 45)

The global financial crisis has had a devastating effect on poverty levels in developing countries, and the social protection response to date, in the form of social assistance, has been limited, constrained by the weak systems and low coverage of pre‐existing provision. Developing countries have struggled to honour pre‐crisis social protection policy commitments due to declining revenues, and in this context the potential for expanding coverage to assist those further impoverished and the “new poor” are remote. Despite the expansionary fiscal stance adopted by many developing countries, the focus of policy responses to the crisis has been on protecting and stimulating growth. The focus has not been on social protection provision to assist the poor directly. Where social protection interventions have been made they have, in many cases, been limited to ad hoc and often regressive interventions such as generalized food or fuel subsidies, rather than more systemic and pro‐poor interventions. However, there may be some scope for optimism, as the crisis has stimulated a number of initiatives to promote donor coordination and programming coherence, which may result in improvements in the efficiency and impact of future social protection programming.

 
Social security in times of crisis (pp. 47 - 70)

To counter the negative social consequences of the present crisis, States must take measures to provide income support and new employment opportunities to affected workers and their families. This article reviews crisis responses in a number of countries with respect to support from unemployment programmes, the branch of social security most directly affected by economic downturn. It also discusses the trade offs that all social security schemes face during economic crises, when revenues from contributions or taxes earmarked to finance programmes fall and expenditures on benefits rise. In turn, concerns about pension policies receive special attention. The article concludes by discussing the initiative, launched by the United Nations, for a global “social protection floor”: to extend, at the very least, basic social protection to the large majority of the world's population who are currently without and who remain vulnerable to all economic and social risks.

 
Economic crisis and social protection in the European Union: Moving beyond immediate responses (pp. 71 - 86)

The economic crisis has served to remind us that social protection is both a social buffer and an economic stabilizer that cushions the impacts of recession. Social benefits are being used by the countries of the European Union (EU) as well as by the Union itself as part of its recovery plan, to support those negatively effected by the crisis and to boost household consumption, thus providing support for business activities and employment. But the crisis could also represent an opportunity for the EU to strengthen its social protection systems, through seeking inspiration from the basic principles of international social law, to emphasize the legitimacy of high levels of social protection, to encourage upward convergence among the social protection systems of its Member States and to increase budget allocations for social protection.

 
The impacts of the crisis on social security administrations: A review of the findings of an ISSA survey (pp. 87 - 101)

This article reviews the findings of a major survey conducted in 2009 by the International Social Security Association (ISSA) on the impacts of the financial and economic crisis on social security administrations. The findings reveal that a majority of administrations have been negatively affected in terms of diminished investment returns on social security funds and reduced contribution income and are challenged by increased expenditure on benefits. In spite of all this, the findings indicate that administrations have reacted to the challenges presented in often proactive and innovative ways. However, challenges still remain. In this regard, the most preoccupying include the possibility of a slow economic recovery involving a protracted labour market crisis and the constraints of depleted financial reserves and reduced fiscal latitude.