Towards Universal Social Security: Priorities for the G20

At least 4 billion people around the world are yet to be covered by any form of social security, and therefore vulnerable to economic, social, and environmental shocks. This paper examines the state of social security in the Group of Twenty (G20) economies — home to 63 percent of the global population. It finds gaps in social security financing in these countries: between universal coverage and actual coverage, and between countries of the Global North, and those of the Global South. To bridge these disparities, it is critical to ensure the financial sustainability of social security through alternative mechanisms. India, as current president of the G20, can guide the grouping in creating sustainable financing for social security, utilising lessons it has learnt from its own social protection schemes.