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Pensions in the Middle East and North Africa: time for change

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  • Robalino, David
  • Whitehouse, Edward
  • Mataoanu, Anca
  • Musalem, Alberto
  • Sherwood, Elisabeth
  • Sluchynsky, Oleksiy

Abstract

While other regions — Central and Eastern Europe and Latin America in particular — have been active in pension reform, the Middle East and North Africa have lagged behind. In part this is because of the belief that favourable mean financial problems are still far in the future and pension reform is therefore not a priority. However, pension systems in the Middle East and North Africa face important structural problems. They distort the economy, tend to favour middle- and high-income workers at the expense of low-income workers and cover only a modest share of the workforce (33% on average), mostly workers in the public sector and the formal private sector. Financial problems are also starting to develop: even if favorable demography persists, benefit promises are out of line with contribution rates and retirement ages. This book puts forward a comprehensive framework to guide discussion about pension reform in the Middle East and North Africa.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 10448.

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Date of creation: 2005
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Handle: RePEc:pra:mprapa:10448

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Keywords: pensions; retirement; Middle East; North Africa;

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References

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  1. Larry Willmore, 2004. "Universal Pensions in Low Income Countries," Public Economics 0412002, EconWPA.
  2. Schwarz, Anita M. & Demirguc-Kunt, Asli, 1999. "Taking stock of pension reforms around the world," Social Protection Discussion Papers 20533, The World Bank.
  3. Whitehouse, Edward, 1999. "The tax treatment of funded pensions," MPRA Paper 14173, University Library of Munich, Germany.
  4. Jeanine Bailliu & Helmut Reisen, 1997. "Do Funded Pensions Contribute to Higher Aggregate Savings?: A Cross-Country Analysis," OECD Development Centre Working Papers 130, OECD Publishing.
  5. Disney, Richard, 1999. "Notional accounts as a pension reform strategy : an evaluation," Social Protection Discussion Papers 21302, The World Bank.
  6. Bosworth, Barry & Burtless, Gary, 2004. "Pension Reform and Saving," National Tax Journal, National Tax Association, vol. 57(3), pages 703-27, September.
  7. Holzmann, Robert & Palacios, Robert & Zviniene, Asta, 2004. "Implicit pension debt: issues, measurement and scope in international perspective," Social Protection Discussion Papers 30153, The World Bank.
  8. Rina Bhattacharya & Tarik Yousef & Pierre Dhonte, 2000. "Demographic Transition in the Middle East," IMF Working Papers 00/41, International Monetary Fund.
  9. Philip R. Gerson & G. A. Mackenzie & Peter S. Heller & Alfredo Cuevas, 2001. "Pension Reform and the Fiscal Policy Stance," IMF Working Papers 01/214, International Monetary Fund.
  10. Disney, Richard & Whitehouse, Edward, 2001. "Cross-country comparisons of pensioners’ incomes," MPRA Paper 16345, University Library of Munich, Germany.
  11. Holzmann, Robert, 1998. "Financing the transition to multipillar," Social Protection Discussion Papers 20052, The World Bank.
  12. Iglesias, Augusto & Palacios, Robert J., 2000. "Managing public pension reserves - Part I : evidence from the international experience," Social Protection Discussion Papers 21311, The World Bank.
  13. James, Estelle & Edwards, Alejandra Cox & Wong, Rebecca, 2003. "The gender impact of pension reform : a cross-country analysis," Policy Research Working Paper Series 3074, The World Bank.
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Cited by:
  1. Palacios, Robert & Sluchynsky, Oleksiy, 2006. "Social pensions Part I : their role in the overall pension system," Social Protection Discussion Papers 36237, The World Bank.
  2. Dorfman, Mark & Hinz, Richard & Robalino, David, 2008. "The Financial Crisis and Mandatory Pension Systems in Developing Countries: Short- and Medium-term Responses," MPRA Paper 12254, University Library of Munich, Germany, revised Dec 2008.
  3. Vittas, Dimitri & Impavido, Gregorio & O'Connor, Ronan, 2008. "Upgrading the investment policy framework of public pension funds," Policy Research Working Paper Series 4499, The World Bank.
  4. Samia BENALLAH & Carole BONNET & Claire El MOUDDEN & Antoine MATH, 2012. "Comment Mesurer La "Générosité" Des Systèmes De Retraite ? Une Application Aux Pays De La Méditerranée," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 35, pages 215-234.
  5. Robalino, David A. & Bodor, András, 2009. "On the financial sustainability of earnings-related pension schemes with ‘pay-as-you-go’ financing and the role of government-indexed bonds," Journal of Pension Economics and Finance, Cambridge University Press, vol. 8(02), pages 153-187, April.
  6. József Kárpáti, 2011. "The pension systems of Arab countries in the light of socio-economic risks," Public Finance Quarterly, State Audit Office of Hungary, vol. 56(2), pages 179-192.
  7. Robalino, David & Bogomolova, Tatyana, 2006. "lmplicit Pension Debt in the Middle-East and North Africa: Magnitude and Fiscal lmplications," MPRA Paper 12016, University Library of Munich, Germany.
  8. Whitehouse, Edward, 2007. "Pensions panorama: retirement-income systems in 53 countries," MPRA Paper 14797, University Library of Munich, Germany.
  9. Jean-Marc Dupuis & Claire El Moudden & Nacer Eddine Hammouda & Anne Petron & Ilham Dkhissi & Mehdi Ben Braham, 2011. "L’impact des systèmes de retraite sur le niveau de vie des personnes âgées au Maghreb," Économie et Statistique, Programme National Persée, vol. 441(1), pages 205-224.
  10. Kumara, Ajantha Sisira & Pfau, Wade Donald, 2011. "Would emerging market pension funds benefit from international diversification: investigating wealth accumulations for pension participants," MPRA Paper 31395, University Library of Munich, Germany, revised 10 Jun 2011.
  11. World Bank, 2006. "Fostering Higher Growth and Employment in the Kingdom of Morocco," World Bank Publications, The World Bank, number 7114.
  12. Garcia-Kilroy, Catiana & Silva, Anderson Caputo, 2011. "Reforming government debt markets in MENA," Policy Research Working Paper Series 5611, The World Bank.
  13. Robert Holzmann & Richard Hinz, 2005. "Old Age Income Support in the 21st century: An International Perspective on Pension Systems and Reform," World Bank Publications, The World Bank, number 7336.
  14. Farrukh Iqbal, 2006. "Sustaining Gains in Poverty Reduction and Human Development in the Middle East and North Africa," World Bank Publications, The World Bank, number 7048.

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