Individual pension system: An evaluation of pension system in Libya

Individuals are using retirement plans financed by a payment plan calculated on an accrual basis in the Middle East and North Africa. In most cases the plans are governed by a financial system that does not begin with the shape we know today. The Arab Spring, which started after the second quarter of the 20th century, included pension funds and health insurance concepts. In addition, a comprehensive pension fund and pension insurance concept has gained momentum after the 2000s have been about how to make declarations about corporate organizations and systems and pension rights. In the existing constructions, the benefits and structuring systems and incentives belonging to the persons have not been studied much in terms of these conditions. When discussing issues on the subject of financial sustainability, the financial capacities of the countries concerned and the cost effects of the pension systems are linear. Especially for religious institutions, the number of people using the pension system is very low. Because it works for the majority of the state, the number of private pension funds concentrates on self-employed and workers, ie those outside the state. Retirement funds and life insurance are made by independent companies. First, by acting in this study, the sample was taken as a conceptual Turkey Individual Retirement System. Later on in the Arab world, pension systems and pension systems for Libya were mentioned. Finally, the study was completed with the proposals.