Chile was the first country to introduce structural pension reform based upon a funded pillar. Implemented in 1981, Chilean pension reform inspired many other Latin American countries. During the nineties, an important literature analysed the positive and negative aspects of pension funds in...

Pension systems in North Africa are facing a certain number of difficulties. We present in this paper the pension system’s characteristics and organization in Algeria, Morocco and Tunisia. This work identifies the specificities, as well as the common problems, of each country’s pension...

This paper discusses the impact of aging on the financial equilibrium of the Tunisian retirement system and the macroeconomic implications of reform and introduces capitalized pillars. Using a stylized, closed economy, overlapping generation model to analyze the impact of the introduction of a...