A short review of the general financial principles and methods of Irish and British social insurance schemes

Abstract

The social insurance schemes at present in operation are those relating to health, unemployment and pensions. These schemes are distinguishable from other social schemes by the fact that direct contributions are taken from the persons included. These contributions are pre-determined and do not necessarily bear any direct relation to current expenditure. The benefits are often either contingent or deferred, and the incidence of risk varies with age or otherwise. Such schemes involve problems of funding and of the equitable treatment of different generations of insured persons. I propose to deal with the three schemes separately.