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Pensions in the Middle East and North Africa: Time for Change

Author

Listed:
  • David Robalino

Abstract

This is the first comprehensive assessment of pension systems in the Middle East and North Africa. While other regions-Central Asia, Eastern Europe, and Latin America, in particular-have been actively introducing reforms to their pension systems, Middle East and North African countries have lagged behind. This is explained, in part, by the common belief that, because demographics remain favorable-the countries are young and the labor force is expanding rapidly-financial problems are far in the future; as a result, pension reform does not have to be a priority in the broader policy agenda. However, the authors show that aging is not the only factor behind a financial crisis; the problem is the generosity of the current schemes. Moreover, badly designed benefit formulas and eligibility conditions introduce unnecessary economic distortions and make the systems vulnerable to adverse distributional transfers. The book does not present a general model that could solve the problems of all pension systems in MENA countries. Instead the authors focus on outlining a framework for guiding discussions on pension reform and making objective policy choices.

Suggested Citation

  • David Robalino, 2005. "Pensions in the Middle East and North Africa: Time for Change," World Bank Publications - Books, The World Bank Group, number 7427.
    • Handle: RePEc:wbk:wbpubs:7427
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Pensions and Retirement Systems Social Protections and Labor - Social Funds and Pensions Social Protections and Labor - Labor Policies;

    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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