Protecting the Old in a Young Economy: Old Age Insurance in the West Bank and Gaza Strip

International Social Security Review, Vol. 53, 3/2000

25 Pages Posted: 21 Dec 2012

See all articles by Markus Loewe

Markus Loewe

German Development Institute/Deutsches Institut für Entwicklungspolitik (DIE)

Date Written: 2000

Abstract

Taking the West Bank and Gaza Strip as a reference point, this paper looks at social protection in developing economies, which are beset by economic stagnation, widespread poverty and unemployment. If the main breadwinner dies, is unable to work or is an older person, these factors are prime causes of absolute poverty. This is hardly surprising, since private and public systems of social security are totally inadequate in this area in particular. Current thinking on social security suggests that what is needed is the rapid introduction of a comprehensive system of retirement provision, comprising a mandatory capital-funded insurance component, with defined contributions, administered on a decentralized basis; and a state-administered pay-as-you-go basic insurance component with lump-sum transfers to safeguard the poorest. A system of this kind works to prevent poverty in old age by redistributing funds from some individuals to others and ensuring an income for life, and it represents a compromise between a fair return on what people have contributed and a fair distribution over society as a whole. It is thus a major force for stability in society.

Keywords: pensions, old age, social protection, Social Security Social Insurance, Palestine / West Bank and Gaza

JEL Classification: G23, H55, I30

Suggested Citation

Loewe, Markus, Protecting the Old in a Young Economy: Old Age Insurance in the West Bank and Gaza Strip (2000). International Social Security Review, Vol. 53, 3/2000. Available at SSRN: https://ssrn.com/abstract=2192135

Markus Loewe (Contact Author)

German Development Institute/Deutsches Institut für Entwicklungspolitik (DIE) ( email )

Tulpenfeld 6
Bonn, 53113
Germany
+49 0 228 94927 0 (Phone)
+49 0 228 94927 130 (Fax)

HOME PAGE: http://www.die-gdi.de/CMS-Homepage/openwebcms3.nsf/(ynDK_contentByKey)/ENTR-7ARHJ3?OpenDocument&nav=

Register to save articles to
your library

Register

Paper statistics

Downloads
13
Abstract Views
287
PlumX Metrics