Bahrain chosen to launch global OECD Pensions Report for MENA region

Bahrain chosen to launch global OECD Pensions Report for MENA region

Bahrain chosen to launch global OECD Pensions Report for MENA region

Manama— Bahrain:   The Organisation for Economic Co-operation and Development (OECD) will be launching its seminal OECD Pensions Outlook Report 2020 in the MENA region for the first time, from the Kingdom of Bahrain.

The global organization, which celebrates its 60th anniversary this week, is considered to be the world’s largest think-tank and research centre on pensions. Last week, the OECD Secretary-General, Angel Gurría, virtually launched the OECD Pensions Outlook 2020 in the presence of presidents and executive directors of pensions research institutes and regulatory authorities from the US and Europe.

The OECD Pensions Outlook is an annual global research that analyses different pension policy issues both public and private, defined benefit and defined contribution, pay-as-you-go and funded retirement systems. Prepared against the background of the COVID-19 pandemic, the 2020 edition discusses policy guidelines to help governments strengthen the resilience of their retirement savings and old-age pension systems.

At the invitation of Bahrain-based Fintech Robos (For Savings & Pensions Apps), organisers of the annual Arab Pensions Conference, the OECD will be holding a special launch event for this global research project in Bahrain on 19th January 2021. Held in Bahrain virtually, the conference is aimed for the entire Arab world.

“Our partnership with the OECD to bring their exceptional global pension research and learning curve to Bahrain and the MENA region is part of our passion to foster communications and forward thinking on pension development and reforms in the region,” said the CEO of Fintech Robos and Chairman of Arab Pensions Conference, Ebrahim K Ebrahim.

“Our joint event with the OECD next month will be a great complement to the Arab Pensions Conference 2020 held last month, and shall be open to all pension funds, social protection, economic planning bodies and financial industry professionals in MENA,” he added.

Mr. Ebrahim also elaborated that governments need to improve the sustainability and resilience of retirement savings systems. COVID-19 has dealt an unprecedented shock to the labour markets and pension arrangements across the world, making governments act swiftly to address many of the ensuing challenges. Many countries, including Bahrain, have extended job retention schemes and unemployment benefits, allowing workers to keep accruing entitlements in state-pension funds.

With 37 member countries spanning the globe, from North and South America to Europe and Asia-Pacific, the OECD manage consultancy and reform projects in more than 100 countries around the world.