The GCC’s pension systems are ripe for reform - The National

The GCC’s pension systems are ripe for reform - The National:

Providing generously for retirement is a source of pride for the region, but funding a financially secure future is an expensive proposition for any government.

With most of the world shifting to a defined contribution system, that places the onus on the individual to save and provide for their future, the GCC still relies on a defined benefit system – where the income is guaranteed until death.

These generous policies for the local populations now face a key problem: how to ensure they remain sustainable in the long-term.