Financial Sust. of the Algerian Retirement System: A Perspective Analysis of the 50 Coming Years

Financial Sust. of the Algerian Retirement System: A Perspective Analysis of the 50 Coming Years

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Speaker(s): Farid Flici

Maintaining retirement systems stability becomes a big challenge for all countries. Such sustainability is widely related to a set of elements changing over time as population structure, longevity, employment and affiliation to social security. For the case of Algeria, public retirement works according to the pay-as-you-go principle and equilibrium is maintained by public subsidy. But, population is now aging, and longevity is improving. The retired population is supposed to grow faster than the population at working age. Consequently, it will be hard to keep equality between retirement incomes and outcomes in such conditions especially if we consider the weakness of the insured population in respect to the global population. The part of this last depends largely of public employment; the private sector is still less covered. In the other hand, a set of elements are still defined by the social and economic context as wages, pension benefit amount and contribution rates. In the present paper, we present a general review of the different variables affecting the stability of the Algerian system and then we do a simulation about the future evolution. In final, we give a set of recommendations in order to strengthen the stability of the Algerian Retirement System during the 50 coming years

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