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Mauritius: The financing of pensions could weigh heavily on the public finances by 2060




A report from the International Monetary Fund (IMF) recently put forward that the elderly of more than 60 years and represented 13% of the population of Mauritius in 2013 are expected to greatly increase on the horizon of 2050 at around 30%, one third of the inhabitants of the island.
 
The increase in old-age pension, acted in the alliance made by Le Peuple (1), victorious of the last legislative elections, has swelled the budget envelope by the authorities.
 
Thus, with the envisaged increase in the number of elderly people in Mauritius, funding for pensions in 2060 could correspond to more than 11% of GDP and eventually severely impact on public finances. The IMF experts argue an extension of the pensionable age to 68 in 2050 and over nine years of the rise in the rate of 9% to 18% of contributions.
 
As a reminder at the end of December 2014, 180,611 people aged between 60 and 89 years have hit 5,000 rupees (2), those between 90 and 99 years to the number of 3,205 have been paid 15,000 rupees per month, and 103 centenary of Mauritius have been entitled to receive of 20,000 rupees monthly.
 
(1) Le Peuple The alliance brings together the Mouvement Socialiste Militant (MSM), le PMSD (Parti Mauricien Social Démocrate) et le Mouvement Libérateur (ML)
(2) One euro roughly equivalent to 39 rupees



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