Major Reforms To Social Security Retirement System

Amid concerns about the financial stability of the existing National Social Security Fund, Lebanon moves forward with legislation to establish landmark pension reforms.

Employer Action Code: Monitor

After decades of attempts, Lebanon's Parliament has approved legislation to establish a comprehensive social security retirement pension for workers in the private sector and to reorganize the National Social Security Fund (NSSF). The new program will replace the lump sum end-of-service benefit from the NSSF with lifetime pensions payable to eligible members upon retirement, disability or death. The law was developed with the technical assistance of the International Labour Organization (ILO) and in consultation with business and worker representatives.