Pension Funds In Sub Saharan Africa
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Pension Funds in Sub-Saharan Africa
Author | : Owen Nyang`oro |
Publisher | : |
Total Pages | : 0 |
Release | : 2022 |
Genre | : |
ISBN | : 9789292672294 |
The population structure the world over is going through a demographic shift, and the elderly proportion is projected to increase with population growth. This change is a matter of concern for sub-Saharan African (SSA) countries, where the majority of the people are young and the rates of both population growth and unemployment are high. A good pension system provides elderly assistance and is a source of savings for long-term investment. The pension systems in SSA, however, are characterized by low coverage and participation rates, and they therefore fail to guarantee a basic income to the elderly. The contributory nature of most private pension schemes is also not favourable in SSA due to high levels of informality and low levels of income, which limit contributions, and because such schemes do not promote risk-sharing and redistribution. Pension reforms in regions such as Latin America have not been overly successful, and this offers lessons for SSA countries. The pension sector in SSA is characterized by low assets under management, investment in short-term assets (mainly government securities), low returns on investment, and restrictive regulatory frameworks. The way out for SSA is to move towards a targeted universal pension system financed through public resources; however, the shift to such a system should be gradual so as not to lead to fiscal strain.
Pension Funds and Private Equity
Author | : Commonwealth Secretariat |
Publisher | : |
Total Pages | : 130 |
Release | : 2013-09 |
Genre | : |
ISBN | : 9781849291040 |
Local institutional capital in sub-Saharan Africa has vast potential as a catalyst to attract increased foreign investment to the continent. It also has a critical role to play providing long term finance to support private sector growth.If the largest African pension markets by assets under management were to invest 5 per cent of their portfolio in private equity, a potential US$17 billion could be released to support private sector investment in Africa. This study reviews the pension industry in 10 African countries - Botswana, Ghana, Kenya, Namibia, Nigeria, Rwanda, South Africa, Tanzania, Uganda and Zambia - reporting on current levels of investment in private equity and the barriers to unleashing this potential.A must read for fund managers, private and institutional investors, regulators, development finance institutions, governments and policy-makers.
Basic Pensions and Poverty Reduction in Sub-Saharan Africa
Author | : Ousmane Faye |
Publisher | : |
Total Pages | : 0 |
Release | : 2014 |
Genre | : |
ISBN | : |
This paper explores the role of basic pensions in reducing poverty in sub-Saharan Africa. Using the most recent Senegalese household income-expenditure data survey, we set up scenarios of universal and means-tested basic pension schemes with different generosity levels. Simulations suggest that basic pension benefits have sizable impact on poverty decline among household, with elderly members, which translates into large decreases in aggregate poverty measures. The paper also analyzes the fiscal costs of basic pensions and shows that these are fiscally affordable as long as pension levels are reasonable. This suggests that basic pension programs could be financially sustainable in sub-Saharan African.
The Derivatives Market in South Africa
Author | : Olatundun Janet Adelegan |
Publisher | : International Monetary Fund |
Total Pages | : 21 |
Release | : 2009-09-01 |
Genre | : Business & Economics |
ISBN | : 1451873433 |
This paper examines the role of the derivatives market in South Africa and provides policy options for promoting the development of derivatives markets in sub-Saharan Africa. South Africa's derivatives market has grown rapidly in recent years, supporting capital inflows and helping market participants to price, unbundle and transfer risk. There are tight regulations on asset allocations by insurance and pension funds to prevent excessive risk taking. The development of derivatives markets in sub-Saharan African countries could enable market participants to self-insure against volatile capital flows. Theiroverdependence on bank credit as a source of funding could be reduced and their management of seasonal risk could be improved through the introduction of commodity futures. However, these markets must be appropriately regulated and supervised. Since such markets would likely be small, consideration should be given to the establishment of a regional derivatives market.
Pensions in the Middle East and North Africa
Author | : Edward Whitehouse |
Publisher | : World Bank Publications |
Total Pages | : 286 |
Release | : 2005-01-01 |
Genre | : Business & Economics |
ISBN | : 0821361856 |
This is the first comprehensive assessment of pension systems in the Middle East and North Africa. While other regionsCentral Asia, Eastern Europe, and Latin America, in particularhave 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 favorablethe countries are young and the labor force is expanding rapidlyfinancial 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 Middle East and North Africa 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.