Sustainability and Equity Challenges to Pension Systems: The Case of Lebanon
Sustainability and Equity Challenges to Pension Systems: The Case of Lebanon
Author(s): Mariusz Jarmuzek, Najla NakhleSubject(s): Social Sciences, Economy, Business Economy / Management, Financial Markets
Published by: Wydawnictwo Naukowe Wydziału Zarządzania Uniwersytetu Warszawskiego
Keywords: ageing; demographics; equity; pensions; pension reform; fiscal policy; sustainability
Summary/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.
Journal: Journal of Banking and Financial Economics
- Issue Year: 10/2018
- Issue No: 2
- Page Range: 52-66
- Page Count: 15
- Language: English