Invalidity, Old-Age and Survivors’ Benefits Convention, 1967 (No. 128)
Reflecting the trend to find all three long-term benefits (i.e. invalidity, old-age and survivors’ benefits) in a single national pension system, Convention No. 128 regroups these three branches into one instrument and extends coverage to all employees, including apprentices, or not less than 75 per cent of the whole economically active population, or all residents whose means during them contingency do not exceed certain limits. It further sets the periodical payment rate for invalidity benefit to at least 50 per cent of the reference wage and envisages the adoption of measures for rehabilitation services. In the case of old-age and survivors’ benefit, the minimum amount should correspond to at least 45 per cent of the reference wage.