Social Security Policy in an Era of Globalization and Competition: Challenges for Southeast Asia

There are several themes which emerge from the comparative analysis of social security systems in Southeast Asia. Each country will need to address the limitations of their respective system in relation to each of the themes outlined. The first theme concerns the need for a multi-tier social security system. The second concerns the need for professionalism in designing and managing provident and pension funds organizations and schemes. The third theme concerns the need for a system-wide perspective. As these countries progress towards a multi-pillar system, it will be essential to ensure that all the different elements of the system are compatible with each other. There is therefore a strong case for considering establishing a regulator for the pension sector. Fourth, it is worth stressing that there is an urgent need to develop indigenous research capabilities in the area of social security. In none of the Southeast Asian countries do any of the universities offer specialization in this area. Finally, the development of appropriate social security systems should be regarded as an essential aspect of international competitiveness and of managing globalization, and not in conflict with them.