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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.

Suggested Citation

  • Robalino, David & Whitehouse, Edward & Mataoanu, Anca & Musalem, Alberto & Sherwood, Elisabeth & Sluchynsky, Oleksiy, 2005. "Pensions in the Middle East and North Africa: time for change," MPRA Paper 10448, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:10448
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    References listed on IDEAS

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    Cited by:

    1. Robalino, David & Tatyana, Bogomolova, 2006. "lmplicit Pension Debt in the Middle-East and North Africa Magnitude and Fiscal lmplications," MPRA Paper 12019, University Library of Munich, Germany.
    2. Marchiori, Luca, 2011. "Demographic trends and international capital flows in an integrated world," Economic Modelling, Elsevier, vol. 28(5), pages 2100-2120, September.
    3. Robert Holzmann & Richard Hinz, 2005. "Old Age Income Support in the 21st century: An International Perspective on Pension Systems and Reform," World Bank Publications - Books, The World Bank Group, number 7336.
    4. Robalino, David A. & Bodor, Andras, 2006. "On the financial sustainability of earnings-related pension schemes with"pay-as-you-go"financing and the role of government indexed bonds," Policy Research Working Paper Series 3966, The World Bank.
    5. Alassane Diaw, 2017. "Retirement Preparedness in Saudi Arabia," International Journal of Economics and Financial Issues, Econjournals, vol. 7(1), pages 78-86.
    6. 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.
    7. palacios, Robert & Whitehouse, Edward, 2006. "Civil-service pension schemes around the world," Social Protection Discussion Papers and Notes 90340, The World Bank.
    8. Farrukh Iqbal, 2006. "Sustaining Gains in Poverty Reduction and Human Development in the Middle East and North Africa," World Bank Publications - Books, The World Bank Group, number 7048.
    9. Beshears, John & Choi, James J. & Laibson, David & Madrian, Brigitte C., 2017. "Does front-loading taxation increase savings? Evidence from Roth 401(k) introductions," Journal of Public Economics, Elsevier, vol. 151(C), pages 84-95.
    10. Ibrahim Al Hawarin & Irène Selwaness, 2018. "The Evolution of Social Security in Jordan’s Labor Market: A Critical Comparison Between Pre- and Post- 2010 Social Security Reform," Working Papers 1185, Economic Research Forum, revised 26 Apr 2018.
    11. Edward Whitehouse, 2007. "Pensions Panorama : Retirement-Income Systems in 53 Countries," World Bank Publications - Books, The World Bank Group, number 7177.
    12. 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.
    13. 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.
    14. Mehdi Ben Braham & Ilham Dkhissi & Anne Petron & Nacer Eddine Hammouda & Claire El Moudden & Jean-Marc Dupuis, 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.
    15. Robert Holzmann, 2016. "Taxing Pensions of an Internationally Mobile Labor Force: Portability Issues and Taxation Options," CESifo Working Paper Series 5715, CESifo.
    16. Bernd Genser & Robert Holzmann, 2016. "The Taxation of Internationally Portable Pensions: Fiscal Issues and Policy Options," CESifo Working Paper Series 5702, CESifo.
    17. Ajantha Kumara & Wade Pfau, 2013. "Would emerging market pension funds benefit from international diversification: investigating wealth accumulations for pension participants," Annals of Finance, Springer, vol. 9(3), pages 319-335, August.
    18. Hamadi Matoussi & Faten Zoghlami, 2007. "Momentum in Emerging Markets: Investigation of Overconfidence and Cognitive BIAS Factors," Working Papers 717, Economic Research Forum, revised 04 Jan 2007.
    19. 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.
    20. Garcia-Kilroy, Catiana & Silva, Anderson Caputo, 2011. "Reforming government debt markets in MENA," Policy Research Working Paper Series 5611, The World Bank.
    21. Cerami, Alfio, 2015. "Social Protection and The Politics of Anger in the Middle East and North Africa," MPRA Paper 92272, University Library of Munich, Germany.
    22. World Bank, 2006. "Fostering Higher Growth and Employment in the Kingdom of Morocco," World Bank Publications - Books, The World Bank Group, number 7114.
    23. Palacios, Robert & Sluchynsky, Oleksiy, 2006. "Social pensions Part I : their role in the overall pension system," Social Protection Discussion Papers and Notes 36237, The World Bank.
    24. Katarzyna Romaniuk, 2013. "Pension fund taxation and risk-taking: should we switch from the EET to the TEE regime?," Annals of Finance, Springer, vol. 9(4), pages 573-588, November.
    25. Filgueira, Fernando & Manzi, Pilar, 2017. "Pension and income transfers for old age: Inter- and intra-generational distribution in comparative perspective," Políticas Sociales 225, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

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    More about this item

    Keywords

    pensions; retirement; Middle East; North Africa;
    All these keywords.

    JEL classification:

    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

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