附註:Includes bibliographical references (pages 225-231) and index.
Initial Conditions for Pension Reform -- Taking Stock of Pension Systems in the Middle East and North Africa -- A Framework for Reform -- Improving the Management of Pension Funds -- Progress to Date and Prospects -- The Initial Conditions for Pension Reform -- Demographics -- Macroeconomics -- Overview of the Financial Sector -- Mandatory Pension Systems in the Middle East and North Africa -- Institutional Organization and Coverage -- Size and Shape of the Schemes -- Incentives -- Equity within and across Genders -- Pension Costs, Financial Sustainability, and Fiscal Implications -- General Guidelines for a Comprehensive Reform Program -- Choosing the Mandate of the Public Pension System and Implementation Mechanisms -- Bringing Current Defined-Benefit, Pay-As-You-Go Systems up to the Standard -- Benefits and Costs of Higher Funding -- Expanding Coverage to the Vulnerable and Poor: A Role for Social Pensions? -- Improving the Institutional Configuration, Administration, and Regulation of Pension Systems -- Management of the Public Pension Funds -- Lessons from International Experience in Pension Fund Management -- Pension Fund Management in the Middle East and North Africa Region -- Improving the Management of Public Pension Funds: Constraints and Opportunities -- Progress to Date and Prospects -- Countries in the Early Stages of Reform -- Countries in Motion -- Countries Leading Pension Reform -- Demographic Indicators -- Methodology for Demographic and Employment Projections -- Life Expectancy, Total Fertility Rate, and Population Projections -- Labor Force Projections -- Unemployment Projections -- Economic Effects of the Demographic Transition -- Coverage Rate Projections -- Main Parameters of Pension Schemes in the Middle East and North Africa -- Tax Treatment of Pension Systems -- Basic Formulas and Mathematical Results Used in the Analysis -- Equivalence of the Standard Defined-Benefit Pension Formula and the Formula Used in a Points System -- Rates of Re
摘要: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. This assessment will be useful for policy makers and government officials involved in pension reform in the Middle East and North Africa region.
