By 2050, one in five people worldwide will be over 60, and most of them will live in low- and middle-income countries. Yet conventional pension schemes, built around formal employment, leave out the millions who live on unpredictable incomes. Women, in particular, are overrepresented in informal work and therefore most exposed to old-age poverty.
In this episode, we explore why conventional pension schemes leave so many behind, what contributory models for informal workers look like in practice, and what it will take to scale them. We also ask what structural, financial, and cultural barriers must be addressed for these schemes to deliver genuine security in old age.
Guests:
Fiona Stewart, the Global Lead on Aging and Pension in the Social Protection Global Practice at the World Bank Group
Gaspard Bayigane, Head, Long-Term Savings Scheme at Ejo Heza, Rwanda Social Security Board
With a contribution from Protais Tuyisenge, Ejo Heza pensioner
Producer: Lamis Daoud, CGAP External Affairs Officer
Audio Editor and Sound Producer: Samantha Malhotra, World Bank Group Interactive Media Program
Executive Producer: Jahda Swanborough, CGAP Communications Lead
© CGAP/World Bank, 2026
