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Sustainability and Equity Challenges to Pension Systems: The Case of Lebanon

Author

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  • Mariusz Jarmuzek
  • Najla Nakhle

Abstract

Reform of Lebanon’s pension system is indispensable. The country already faces fiscal sustainability risks, which will be compounded in the future by significantly higher pension- related spending and liabilities, mainly reflecting adverse demographics. In addition to sustainability issues, the pension system also suffers from equity shortcomings – Lebanon is the only MENA country that does not offer social security for retirees in the private sector. While several reform proposals have been formulated since the early 2000s, none has been implemented to date. Costs mount with every year of delay, so action is required soon to address these challenges.

Suggested Citation

  • Mariusz Jarmuzek & Najla Nakhle, 2018. "Sustainability and Equity Challenges to Pension Systems: The Case of Lebanon," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 2(10), pages 52-66, December.
    • Handle: RePEc:sgm:jbfeuw:v:2:y:2018:i:10:p:52-66
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    References listed on IDEAS

    as
    1. Pallares-Miralles, Montserrat & Romero, Carolina & Whitehouse, Edward, 2012. "International patterns of pension provision II : a worldwide overview of facts and figures," Social Protection Discussion Papers and Notes 70319, The World Bank.
    2. Mauricio Soto & Mr. Vimal V Thakoor & Mr. Martin Petri, 2015. "Pension Reforms in Mauritius: Fair and Fast—Balancing Social Protection and Fiscal Sustainability," IMF Working Papers 2015/126, International Monetary Fund.
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    Cited by:

    1. Marie Claude Kamar & Riccardo Magnani, 2022. "Population ageing and labor market frictions. An OLG model applied to Lebanon," Working Papers 3, SITES.

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    More about this item

    Keywords

    ageing; demographics; equity; pensions; pension reform; fiscal policy; sustainability;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts

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