Sustainability and Equity Challenges: Some Arithmetic on Lebanon’s Pension System

Mariusz Jarmuzek and Najla Nakhle

No 2016/046, IMF Working Papers from International Monetary Fund

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 pensionrelated 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.

Keywords: WP; pension; retirement age; pension expenditure; employee; ageing; demographics; equity; pensions; pension reform; fiscal policy; sustainability; private sector scheme; pension payment; pension allowance; present discounted value; pension liability; pension equivalent; private sector employee; pension dynamics; Pension spending; Retirement; Aging; Middle East; North Africa; East Africa (search for similar items in EconPapers)
Pages: 20
Date: 2016-03-02
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