Jobs vs pensions

The draft labour code on social security is an ambitious but incomplete document

The draft labour code on social security published on the Ministry of Labour & Employment website is an ambitious but incomplete document. What should have been a simple exercise in consolidating 15 labour laws is dangerous for three reasons; a) it does not recognise that social security systems for old age are structurally different from those designed for poverty, b) it tries to combine elements of Universal Basic Income, Direct Benefits Transfer, Provident Fund, Health Insurance, Maternity Benefit, etc. without thinking about financing (payroll confiscation versus individual savings versus government spending), and c) it fails to learn lessons from the