Pension Systems 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.
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.
Indigenous Social Security Systems in Southern and West Africa
Author | : Ndangwa Noyoo |
Publisher | : AFRICAN SUN MeDIA |
Total Pages | : 241 |
Release | : 2018-08-14 |
Genre | : Law |
ISBN | : 1928357903 |
The desire exists within Governments to provide for those who are on the fringes of society. Therefore, indigenous approaches seem relevant in the redistribution of resources among citizens. This book is therefore not only essential, but also timely. Indigenous Social Security Systems in Southern and West Africa (ISSS) contributes to human service literature for Africa, Southern Africa and West Africa in particular. The richness of the book lies within the variety of contributions that encourage its origin. The book?s value is extensive and captures many essential and current topics that have an appeal to academicians, policy?makers, analysts and practitioners in the field of social welfare and social security. Ultimately, the book serves as a pragmatic and expedient tool for human service practitioners and any enthusiast of social security systems.
Aging in Sub-Saharan Africa
Author | : National Research Council |
Publisher | : National Academies Press |
Total Pages | : 368 |
Release | : 2006-11-10 |
Genre | : Social Science |
ISBN | : 0309180090 |
In sub-Saharan Africa, older people make up a relatively small fraction of the total population and are supported primarily by family and other kinship networks. They have traditionally been viewed as repositories of information and wisdom, and are critical pillars of the community but as the HIV/AIDS pandemic destroys family systems, the elderly increasingly have to deal with the loss of their own support while absorbing the additional responsibilities of caring for their orphaned grandchildren. Aging in Sub-Saharan Africa explores ways to promote U.S. research interests and to augment the sub-Saharan governments' capacity to address the many challenges posed by population aging. Five major themes are explored in the book such as the need for a basic definition of "older person," the need for national governments to invest more in basic research and the coordination of data collection across countries, and the need for improved dialogue between local researchers and policy makers. This book makes three major recommendations: 1) the development of a research agenda 2) enhancing research opportunity and implementation and 3) the translation of research findings.