Globally, pension funds are one of the most popular instruments that governments and large institutional investors have used in order to fund the retirement benefits of their workforce. In the past two decades, owing to burgeoning fiscal deficits and increasing inflation, governments have shifted from defined contribution model from the previously popular defined benefit model.
However, GCC has remained an outlier with higher oil prices before 2014 giving confidence for the GCC governments in their ability to fund any shortfalls that might arise in the future. Given the way oil prices have broadly remained in the lower range since their drop in 2014-16 and the muted outlook towards fossil fuels warrant a re-assessment of the pension system structure in the region. Recognizing this, GCC governments and pension funds have initiated reforms in the structure of pension systems, their obligations, retirement age etc. Additional reforms to address major challenges in the segment would aid in ensuring wealthy and sustainable pension funds.
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Experienced and qualified team of Marmore MENA Intelligence has prepared this report. Since its inception, Marmore has published over 1000 research reports and covered more than 25 varied industries and policy segments; all focused primarily on the GCC economies.
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