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Intro -- Contents -- Preface -- Acknowledgments -- About the Authors -- Executive Summary -- Acronyms and Abbreviations -- Glossary -- 1. Overview -- Chapter 2: Initial Conditions for Pension Reform -- Chapter 3: Taking Stock of Pension Systems in the Middle East and North Africa -- Chapter 4: A Framework for Reform -- Chapter 5: Improving the Management of Pension Funds -- Chapter 6: Progress to Date and Prospects -- 2. The Initial Conditions for Pension Reform -- Demographics -- Macroeconomics -- Overview of the Financial Sector -- Conclusions -- 3. 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 -- Conclusions -- 4. 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 -- 5. 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 -- Conclusions -- 6. Progress to Date and Prospects -- Countries in the Early Stages of Reform -- Countries in Motion -- Countries Leading Pension Reform -- Conclusions -- Appendices -- A Demographic Indicators -- B 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 -- C Main Parameters of Pension Schemes in the Middle East and North Africa -- D Tax Treatment of Pension Systems -- E 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 Return in Earning-Related Schemes -- F Demographic and Financial Data on Pension Funds -- References -- Index -- Boxes -- 1 Glossary of Key Technical Terms -- 5.1 Provisions of the Draft Law on the Public Pension Scheme in the West Bank and Gaza -- Figures -- 2.1 Average Population Growth Rate, by Region,1960 -2002 -- 2.2 Old-Age Dependency Ratio, by Region, 1960-2003 -- 2.3 Average Population Growth Rate in Middle East and North African Countries, 1960-2002 -- 2.4 Young-and Old-Age Dependency Ratios in Middle East and North African Countries, 2000 -- 2.5 Life Expectancy and Total Fertility Rate in Middle East and North African Countries, 1985 and 2002 -- 2.6 Estimated Difference in the Average Growth Rate of the Working-Age and Dependent Populations in Middle East and North African Countries,2000 -20 -- 2.7 Projected Growth Rate of the Labor Force in Middle East and North African Countries, 2002-30 -- 2.8 Key Macroeconomic Indicators in Select Middle East and North African Countries,1993-2003 -- 2.9 Banking and Credit as Percentage of GDP in Select Middle East and North African Countries, 2002 -- 2.10 Domestic and External Debt as a Percentage of GDP in Select Middle East and North African Countries, 2002 -- 2.11 Market Capitalization and Credit to the Private Sector as a Percentage of GDP in Select Middle East and North African Countries,Various Years,2000 -2.
2.12 Turnover as a Percentage of GDP in Select Middle East and North African Countries, Various Years, 2000-2 -- 3.1 Coverage of the Mandatory Pension System in Select Middle East and North African Countries -- 3.2 Projected Coverage Rate in Middle East and North African Countries, 2003-30 -- 3.3 Gross Replacement Rate as Percentage of Average Earnings in Select Middle East and North African Countries -- 3.4 Net Replacement Rate as a Percentage of Average Earnings in Select Middle East and North African Countries -- 3.5 Gross and Net Replacement Rates as a Percentage of Average Earnings in Schemes for Civil Servants in Select Middle East and North African Countries -- 3.6 Gross Pension Wealth as a Multiple of Average Earnings in Schemes for Civil Servants in Select Middle East and North African Countries -- 3.7 Gross Replacement Rate as a Percentage of Average Earnings in Select Countries around the World -- 3.8 Minimum Pension Guarantee as a Percentage of Average Earnings in Select Countries around the World -- 3.9 Ceiling on the Covered Wage as a Multiple of Average Earnings in Select Countries around the World -- 3.10 Gross Pension Wealth as a Multiple of Average Earnings in Select Countries around the World -- 3.11 Changes in the Internal Rate of Return as Function of Retirement Age in the SSC in Jordan and the CNSS in Morocco -- 3.12 Internal Rate of Return and Enrollment and Evasion Strategies in the GOSI in Bahrain and in Egypt -- 3.13 Internal Rate of Return and Wage History in the CNR in Algeria and the SSC in Jordan -- 3.14 Internal Rate of Return and Enrollment Age in the SSO in the Islamic Republic of Iran and the RSNA in Tunisia -- 3.15 Real Implicit Rate of Return for a Representative Plan Member in Select Middle East and North African Countries, by Fund.
3.16 Pension Expenditures as a Percentage of GDP in Mandatory Schemes in Select Middle East and North African Countries -- 3.17 Normalized Implicit Pension Debt in Select Countries around the World -- 3.18 Projected Dependency Ratio in Private and Public Pension Schemes in Select Middle East and North African Countries, 2002 -- 4.1 "Adequacy" versus "Insurance" Functions in Select Pension Systems around the World -- 4.2 Minimum Pension and General Poverty Line in Select Middle East and North African Countries -- 4.3 Share of the Elderly Living with Their Children in Select Countries around the World -- 4.4 Links between Accrual Rates, Retirement Ages, Rates of Return, and Contribution Rates -- 4.5 Incentive Effects of Top-Ups and Flat Pensions -- 5.1 Pension Assets as a Percentage of GDP in Middle East and North African Countries and World Regions -- 5.2 NIB and Market Interest Rates in Egypt, 1979-2000 -- 5.3 Structure of the Portfolio of Investments of the SSO in the Islamic Republic of Iran, 1989-2000 -- 5.4 Composition of the Portfolio of the SSC in Jordan, 1980-2002 -- 5.5 Governance Indicators in Middle East and North African Countries:Voice, Accountability, and Regulatory Quality, 2002 -- B.1 Age-Specific Survival Rate Forecasts in Middle East and North African Countries, 2002 and 2030 -- B.2 Projected Old-Age and Total-Dependency Ratio in Middle East and North African Countries, 2000-40 -- B.3 Projected Female and Male Participation Rates in Middle East and North African Countries, 2000-30 -- B.4 Projected Unemployment Rates in Middle East and North African Countries, 2000-30 -- E.1 Share of Cohort Surviving to Age in Morocco -- Tables -- 1 Main Economic Indicators in Middle East and North African Countries, 2003 -- 2.1 GDP Growth in Select Middle East and North African Countries,1990-2003.
2.2 Distribution of Output and Employment in Middle East and North African Countries, by Sector, 2003 -- 2.3 Overview of Banking Sector and Financial Reforms and Stability in Select Middle East and North African Countries -- 2.4 The Insurance Sector in Select Middle East and North African Countries, Various Years, 2000-2 -- 3.1 Structure of the Pension System in Middle East and North African Countries -- 3.2 Replacement Rate and Pension Wealth in Public and Private Pension Schemes in Select Middle East and North African Countries -- 3.3 Gross Replacement Rate around the World, by Level of Earnings and Region -- 3.4 Gross Pension Wealth around the World, by Level of Earnings and Region -- 3.5 Earliest Eligibility Age and Pension Wealth for Full-Career Workers, by Gender, in Schemes for Private Sector Workers in -- 4.1 Systemic Reforms in Select Countries in Latin America and Europe -- 4.2 Best Practices in the Design of a Defined-Benefit, Pay-As-You-Go System -- 4.3 Social Pensions in Select Countries around the World -- 4.4 Cost of a Flat Pension of 15 percent of National GDP per Capita in Select Middle East and North African Countries, by Eli -- 4.5 Age and Poverty in Select Middle East and North African Countries -- 4.6 Administrative Expenditures for Select Middle East and North African Countries -- 5.1 Balance Sheet of the National Investment Bank in Egypt, 2002-4 -- 5.2 Structure of Reserves of the CSRO in the Islamic Republic of Iran, 2001 -- 5.3 Distribution of NSSF Assets in Lebanon, 2002, 2003 -- 5.4 Distribution of Reserves of the Social Security Fund in Libya, 2002 -- 5.5 Portfolio Allocation of CDG Assets in Morocco, 2003 -- A.1 Population Size in Middle East and North African Countries and World Regions, 1960 -2000 -- A.2 Average Growth Rates, by Region and Period, 1960-2003.
A.3 Average Population Growth Rates in Middle East and North African Countries, 1960-2003.
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Pensions in the Middle East and North Africa [[electronic resource] ] : time for change / / David A. Robalino with Edward Whitehouse ... [et al.]
