Financial Services and Arrangements to Facilitate the (Ex)Portability of Social Security Benefits in the Southern African Development Community
This contribution reviews the financial services and arrangements to facilitate the (ex)portability of social security benefits in the Southern African Development Community (the SADC). It commences by providing a general background to the theme it covers by focussing on the (ex)portability of soci...
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| Format: | Article |
| Language: | Afrikaans |
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North-West University
2022-10-01
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| Series: | Potchefstroom Electronic Law Journal |
| Subjects: | |
| Online Access: | https://perjournal.co.za/article/view/14596 |
| _version_ | 1811192595509936128 |
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| author | Letlhokwa George Mpedi |
| author_facet | Letlhokwa George Mpedi |
| author_sort | Letlhokwa George Mpedi |
| collection | DOAJ |
| description |
This contribution reviews the financial services and arrangements to facilitate the (ex)portability of social security benefits in the Southern African Development Community (the SADC). It commences by providing a general background to the theme it covers by focussing on the (ex)portability of social security as part of the coordination principles contained in the pertinent International Labour Organisation social security conventions, the (ex)portability of social security benefits provided for in SADC social security instruments, the key purpose of the payment of social security abroad, and the negative impact of the absence of the suitable cross-border payment of benefits in the SADC. It proceeds by discussing the common methods used for the cross-border payment of social security benefits in the SADC. These models are business-to-business, business-to-client, government institution-to-government institution, and client-to-business. The contribution continues by reviewing selected challenges in the region facing financial services and arrangements to facilitate the payment of social security abroad. These challenges are the lack of a single currency, remittance costs, and unbanked persons. The paper concludes by making recommendations for developing a coherent regional and enabling framework for the payment of social security benefits abroad.
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| first_indexed | 2024-04-11T23:55:02Z |
| format | Article |
| id | doaj.art-58c61cd3195b41999dac7f32118439b8 |
| institution | Directory Open Access Journal |
| issn | 1727-3781 |
| language | Afrikaans |
| last_indexed | 2024-04-11T23:55:02Z |
| publishDate | 2022-10-01 |
| publisher | North-West University |
| record_format | Article |
| series | Potchefstroom Electronic Law Journal |
| spelling | doaj.art-58c61cd3195b41999dac7f32118439b82022-12-22T03:56:23ZafrNorth-West UniversityPotchefstroom Electronic Law Journal1727-37812022-10-012510.17159/1727-3781/2022/v25i0a14596Financial Services and Arrangements to Facilitate the (Ex)Portability of Social Security Benefits in the Southern African Development CommunityLetlhokwa George Mpedi0University of Johannesburg This contribution reviews the financial services and arrangements to facilitate the (ex)portability of social security benefits in the Southern African Development Community (the SADC). It commences by providing a general background to the theme it covers by focussing on the (ex)portability of social security as part of the coordination principles contained in the pertinent International Labour Organisation social security conventions, the (ex)portability of social security benefits provided for in SADC social security instruments, the key purpose of the payment of social security abroad, and the negative impact of the absence of the suitable cross-border payment of benefits in the SADC. It proceeds by discussing the common methods used for the cross-border payment of social security benefits in the SADC. These models are business-to-business, business-to-client, government institution-to-government institution, and client-to-business. The contribution continues by reviewing selected challenges in the region facing financial services and arrangements to facilitate the payment of social security abroad. These challenges are the lack of a single currency, remittance costs, and unbanked persons. The paper concludes by making recommendations for developing a coherent regional and enabling framework for the payment of social security benefits abroad. https://perjournal.co.za/article/view/14596(Ex)portabilitysocial security benefitssocial security coordinationfinancial servicesregional integration |
| spellingShingle | Letlhokwa George Mpedi Financial Services and Arrangements to Facilitate the (Ex)Portability of Social Security Benefits in the Southern African Development Community Potchefstroom Electronic Law Journal (Ex)portability social security benefits social security coordination financial services regional integration |
| title | Financial Services and Arrangements to Facilitate the (Ex)Portability of Social Security Benefits in the Southern African Development Community |
| title_full | Financial Services and Arrangements to Facilitate the (Ex)Portability of Social Security Benefits in the Southern African Development Community |
| title_fullStr | Financial Services and Arrangements to Facilitate the (Ex)Portability of Social Security Benefits in the Southern African Development Community |
| title_full_unstemmed | Financial Services and Arrangements to Facilitate the (Ex)Portability of Social Security Benefits in the Southern African Development Community |
| title_short | Financial Services and Arrangements to Facilitate the (Ex)Portability of Social Security Benefits in the Southern African Development Community |
| title_sort | financial services and arrangements to facilitate the ex portability of social security benefits in the southern african development community |
| topic | (Ex)portability social security benefits social security coordination financial services regional integration |
| url | https://perjournal.co.za/article/view/14596 |
| work_keys_str_mv | AT letlhokwageorgempedi financialservicesandarrangementstofacilitatetheexportabilityofsocialsecuritybenefitsinthesouthernafricandevelopmentcommunity |