Increase social security benefits | Editorial

Increase social security benefits

In the face of escalating commodity prices, we must reassess and recalibrate our social security system to better address the needs of those who rely on it for their basic sustenance. The current state of affairs, with a maximum allowance capped at Rs. 700, is woefully inadequate in the wake of the prevailing economic challenges.

Several segments of our society, including the elderly, disabled, and individuals facing spousal abandonment or widowhood, depend on social security allowances for their livelihood. Yet, a glaring discrepancy exists between the rising cost of living and the meagre financial support provided. The existing allowance of Rs. 700 is insufficient to cover even the most necessities, placing an undue burden on those already grappling with financial hardship.

Furthermore, a disconcerting trend has emerged, where even affluent individuals are availing themselves of Old Age Allowance. This raises questions about the fairness and equity of our social security system. We must redirect these resources towards those who are truly in need, ensuring that the safety net is reserved for those facing genuine financial struggles.

In this light, we propose a comprehensive overhaul of the social security allowance system. Firstly, an immediate adjustment to the allowance amount is crucial to reflect the current economic realities. A thoughtful reassessment should be undertaken to determine the minimum subsistence allowance required for individuals to meet their basic needs in the current market conditions.

Secondly, the eligibility criteria for social security benefits must be rigorously reviewed. Wealthy individuals should not be entitled to benefits meant for the financially vulnerable. By redirecting these resources towards those who are genuinely in need, we can establish a more just and equitable social security system.

It is incumbent upon policymakers to prioritize the well-being of the most vulnerable members of our society. As the cost of living continues to rise, a failure to act now will only exacerbate the struggles faced by those dependent on social security allowances. By implementing these reforms, we can ensure that our social safety net remains true to its intended purpose – providing a lifeline to those who need it the most. The time for change is now, and we must seize this opportunity to build a more inclusive and compassionate society.

Mostafizur Rahman
Publisher and Editor- projonmokantho