Glossary:Old age function
The function covers the provision of social protection against the risks linked to old age: loss of income, inadequate income, lack of independence in carrying out daily tasks, reduced participation in social life, and so on. Medical care of the elderly is not taken into account, as all health care expenditure is reported under the Sickness/health care function. The Old age function covers benefits that:
- provide a replacement income when the aged person retires from the labour market;
- guarantee a certain income when a person has reached a prescribed age;
- provide goods or services specifically required by the personal or social circumstances of the elderly.