Social security: Three lessons from the global crisis

This article focuses on three lessons that can be drawn from responses to the global crisis:

People covered by different social security arrangements with respect to financing, design and coverage are exposed to economic shocks in different degrees.
With adequate financing, design and coverage, social security acts as an economic and social stabilizer during a crisis.
While the crisis has opened a window of opportunity for the extension of social security, particularly in low-income countries, more political will is needed both nationally and internationally to create the necessary fiscal space.