A Model Code on Social Security for the EAC
Introduction
The world we live in is characterized by numerous unexpected life circumstances. In certain instances, we are faced with the loss or reduction of productive capacity, and discrimination that can hinder our personal or family well-being. As such, we all need protection from social risks and resulting insecurities.
The world we live in is characterized by numerous unexpected life circumstances. In certain instances, we are faced with the loss or reduction of productive capacity, and discrimination that can hinder our personal or family well-being. As such, we all need protection from social risks and resulting insecurities.
Social security benefits – or social transfers – are powerful tools to combat poverty and inequality, and to invest in social and economic development. As such, they are key to achieve the Millennium Development Goal (MDG) targets.
Social protection, through social security policies that are aligned with economic and labour policies, is an economic, social and political necessity that has been recognized by several international declarations and agreements as a human right.
Through insurance and assistance programmes, social security helps prevent people from falling into poverty and/or escape the poverty trap. As such, they also avoid or lessen social tensions, violent conflicts and uncontrolled migration.
Similarly, social security schemes are also known to be automatic social and economic stabilizers, especially in times of economic crisis.
