Over 1.8 billion self-employed women and youth in developing countries across Asia, Africa and Latin America are neither eligible for pension benefits nor saving for their old age and face the grim prospect of extreme poverty once they exit the workforce. Without an urgent policy, regulatory and business response to financial and pension exclusion, the looming old age poverty crisis could become the dominant cause of a radical increase in global poverty. But if even a quarter of these excluded workers start saving just $1 a day, they could generate over $15 trillion in new long-term savings. This session will examine the role of governments, regulators, civil society and technology in making small-ticket pension, savings and insurance solutions commercially sustainable. And in making access to well-regulated micro-wealth and micro-pension solutions affordable, simple and easy for everyone. Everywhere.
Speakers:
Arinjoy Dhar, Senior Director, BRAC
George Awap, Assistant Governor, Bank of Papua New Guinea
Nitin Chugh, Deputy Managing Director & Head (Digital Banking & Transformation), State Bank of India
