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Pension System Reforms for Pakistan: Current Situation and Future Prospects

Author

Listed:
  • Umaima Arif

    (Pakistan Institute of Development Economics Islamabad)

  • Eatzaz Ahmed

    (Quaid-i-Azam University, Islamabad)

Abstract

Pension Systems Are Intended To Give An Income Support To Those Individuals Who Bear A Loss In Earning Capability During Old Age, Incident Of Disability Or Death Of Wage Earner In The Family. Thus, Pension Systems Aim To Reduce Poverty Among The Old Individuals And Strive To Smooth Consumption Between The Working Years And The Retirement Years, In Such A Way That Individuals Do Not Bear A Massive Drop In Living Standards When Old Age And Disability Reduces Their Earning Ability. The Former Objective Is Obtained Through Non Contributory Pension System And The Later Through Contributory Pension System. Most Formal Pension Systems Around The World Are Publicly Managed, Pay Defined Benefits, And Are Financed By Payroll Taxes On A Pay-As-You-Go Basis. In Pay-As-You-Go Pension System Current Workers� Contributions Are Used To Pay Pension Benefits To Current Retirees.

Suggested Citation

  • Umaima Arif & Eatzaz Ahmed, 2010. "Pension System Reforms for Pakistan: Current Situation and Future Prospects," PIDE Monograph Series 2010:2, Pakistan Institute of Development Economics.
    • Handle: RePEc:pid:monogr:2010:2
    as

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    File URL: https://file.pide.org.pk/pdfpideresearch/ms-01-pension-system-reforms-for-pakistan-current-situation-and-future-prospects.pdf
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    References listed on IDEAS

    as
    1. Mathew Joseph & Karan Singh & Pankaj Vashisht & Dony Alex & Alamuru Soumya & Ritika Tewari & Ritwik Banerjee, 2009. "The State of the Indian Economy 2009-10," Macroeconomics Working Papers 22915, East Asian Bureau of Economic Research.
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    Cited by:

    1. Ghouse, Ghulam & Khan, Saud Ahmed, 2017. "Tracing dynamic linkages and spillover effect between Pakistani and leading foreign stock markets," Review of Financial Economics, Elsevier, vol. 35(C), pages 29-42.
    2. Rashid Amjad Chaudhry & Musleh ud Din & Abdul Qayyum, 2011. "Pakistan: Breaking Out of Stagflation into Sustained Growth," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 16(Special E), pages 13-30, September.
    3. Ghouse, Ghulam & Khan, Saud Ahmed & Habeeb, Kashif, 2019. "Information Transmission Among Equity Markets: A Comparison Between ARDL and GARCH Model," MPRA Paper 97925, University Library of Munich, Germany.
    4. Ghamz-e-Ali Siyal & Asma Mohsin & Khalid Zaman, 2014. "Financial Soundness and Pakistan’s Economics Growth: Turn on the Light," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 2(9), pages 359-371, September.
    5. Mirajul Haq & Karim Khan & Ayesha Parveen, 2014. "The Growth and Employment Impacts of the 2008 Global Financial Crisis on Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 19(2), pages 129-154, July-Dec.
    6. Ghulam Ghouse & Saud Ahmed Khan, 2017. "Tracing dynamic linkages and spillover effect between Pakistani and leading foreign stock markets," Review of Financial Economics, John Wiley & Sons, vol. 35(1), pages 29-42, November.
    7. Amjad, Rashid & Yusuf, Anam, 2014. "More and better jobs for Pakistan: Can the manufacturing sector play a greater role," MPRA Paper 59518, University Library of Munich, Germany.

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    2. Rashid Amjad & Musleh ud Din, 2010. "Economic and Social Impact of Global Financial Crisis: Implications for Macroeconomic and Development Policies in South Asia," PIDE Monograph Series 2010:1, Pakistan Institute of Development Economics.

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    Keywords

    Pension System; Reforms;

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