Expenditures on Social Pensions1
|3||Annual Growth Rate of GDP, 1990–95|
(in percent) 3½
|Level at which per capita social pension expenditures would be equalized2|
|Per capita expenditure in 1995 (in 1990 rand)||2,216||2,270||2,326|
|Current level of social pension expenditures|
|Per capita benefit in 1990 (rand)||3,312||1,980||2,700||2,700|
|Percentage of GDP if per capita expenditure is equalized at group’s 1990 rate||3.1||1.8||2.5||2.5|
Old age and disability pensions.
The elderly population is assumed to grow at 2.4 percent a year; however, the relative proportion of old people eligible for pensions is assumed to remain at its 1990 level.