Social Security faces a variety of challenges around the world ranging from questions of sustainability to issues of expanding coverage. It is a responsibility of society as a whole and employers should not bear an unequal burden in its financing. Social security must also perfectly fit into the economic and social realities of each country. There must be a balance between the provision of social security and the creation of employment, competitiveness and economic growth.  Regardless of which system is adopted according to national circumstances (public, private or a combination thereof) sound administrative and financial management are essential elements of every system.