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Why are unemployment individual savings accounts not an adequate and equitable solution to unemployment protection?
Other publication - Brief   Open access

Why are unemployment individual savings accounts not an adequate and equitable solution to unemployment protection?

International Labour Organization
ILO brief. Social protection spotlight, ILO
2024
DOI:
https://doi.org/10.54394/QWMJ1314
Appears in  ILO Briefs

Abstract

unemployment benefit saving
This policy brief highlights the limitations of Unemployment Individual Savings Accounts (UISA), emphasizing that they are not an adequate and equitable solution to unemployment protection. It underscores the need for risk pooling and collective financing, established through social insurance mechanisms, and warns against relying on UISA, which increase costs and fail to provide adequate protection for those in temporary, seasonal and low pay jobs.
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