» Role of international social security standards
Home standards Definition Impact international standards ILO Standards Up to date Standards ILO Convention 102 Principles Tool for extension Impact ILO standards Supervisory mechanisms
Question 6 : Which are the main principles of the ILO convention 102?
>> Principle 4 : Collective Financing of Benefits
The cost of the benefits and the cost of the administration of such benefits must be borne collectively by way of insurance contributions or taxation or both
The methods of financing must avoid hardship to persons of small means and take into account the economic situation of the country and of the classes of persons protected
In case of contributory schemes, the total of the insurance contributions borne by the employees protected must not exceed 50 per cent of the total of the financial resources allocated for protection
Principle 5 : Adjustment of Pensions