Multi-Contributor Social Security: Time to reimagine social security contributions
Inadequate coverage and financing dogs our social security system. Imagine a person’s bank account designated as a multi-contributor social security (MCSS) account where multiple entities – Central and State governments, employers, employees, philanthropists, charities, companies invoking CSR, and other individuals can contribute directly. These contributions, in turn, could get tax benefits. Imagine you being able to tip your Swiggy delivery person directly into his MCSS account, towards his retirement corpus
Source: moneycontrol.com