Consider the following statements about Social Security (Minimum Standards) Convention, 1952 (No. 102) of ILO- 

 

I) Convention No. 102 is the flagship of the up-to-date social security Conventions since it is deemed to embody the internationally accepted definition of the very principle of social security.

II) It considers social security voluntary hence is a non-binding agreement.

III) It sets out minimum standards for each of the nine classical branches of social security.

IV) Convention No. 102 provides for flexibility and guidance as regards the type of schemes member States may establish for the implementation of the Convention.

Which of the above statements is/are correct?