Summary (English)

Based on collaboration between the IMF, International Labour Organization (ILO), and the World Bank, this paper has three main goals: (1) Assess the existing public and private pension system on the key dimensions of fiscal sustainability, labor market implications, coverage, and adequacy of benefits. (2) Propose a core set of parametric reforms to be applied across both the public and private sector pension systems, along with options for the institutional and administrative realignment of the respective schemes. (3) Provide a basis to engage key stakeholders on strategies to achieve a more inclusive system. Building on the reform proposals presented here, convergence on the specific reform options and parameters should result from further discussions and dialogue among all relevant stakeholders in Iraq.