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Social Protection Floor for the Elderly in Bangladesh: A Needs Assessment for Old Age Allowance Beneficiaries

Corresponding Author : Mohammad Abdul Hannan Pradhan (hannan-eco@sust.edu)

Authors : Mohammad Abdul Hannan Pradhan (hannan-eco@sust.edu), Nourush Jahan (nowrushjahan@gmail.com)

Keywords : Old Age Allowance, Financial Need, Poverty Line, Financial Care Providers

Abstract :

The objective of the study is to estimate the financial capacity and needs of the Old Age Allowance (OAL) beneficiaries in Sylhet district of Bangladesh and to identify potential financial care providers employing a quantitative method based on primary data. Data was collected randomly surveying more than six hundred beneficiaries with structured questionnaire during allowance receiving time.The financial capacity of the grant is explained by the ratio of the international and local poverty line using Cost of Basic Need (CBN) method. The financial needs are estimated based on their expected and current spending. Further, the binary logistic regression model is used to analyze the potential financial care provider besides government. Finding shows that OAA covers only about 20% of the international poverty line and less than 50% of food poverty line. Hence, it is evident that there is a mammoth difference between required as a basic need and current expenditure per capita. Various mean differences reveal that the current financial needs of the respondents might be from BDT1247 to 1670. The logistic model reports that the number of the children and living arrangement, whether they live with the children or not signifies the role of the child as financial care providers. The policy makers need to revise and increase the allowance to at least three times rate. Working facilities can be provided if the recipients are able. They also need access to proper healthcare facilities. These initiatives might help to achieve sustainable development of the country.

Published on December 30th, 2021 in Vol 32, No 2, 2021 (Special Issue on Bangladesh Development Perspectives : Issues of Economic Justic, Social Sciences