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The Portland Trust is committed to promoting peace and stability between Palestinians and Israelis through economic development.

Pensions

Despite the recent reform of the public sector pension system there remains limited access to pension funds for the Palestinian private sector. The establishment of a private sector pension fund would help secure the financial future of retirees, inject long-term capital into the market and stimulate economic growth.

In 2007, The Portland Trust commissioned Levant Consulting to review the status of existing private sector pension and provident fund schemes, to analyse international experience, and to recommend appropriate structures for a Palestinian
system. Following the publication of the study in August 2007, we worked with public and private stakeholders to formulate implementing legislation to allow for the establishment of a new private pension system in the Palestinian Territory. The draft legislation was submitted to the Palestinian Prime Minister in November 2008. The World Bank, through its FIRST initiative, has prepared the accompanying regulations for the pension legislation and submitted a draft to the CMA in September 2009.

To view the study, click here.

The Portland Trust is now discussing the establishment of a pilot pension company with local Palestinian businesses and the former head of the Capital Markets Authority (CMA). International expertise will be required to work alongside local experts and undertake technical studies on the spheres of operations, a financial feasibility study and identifi cation of the role of the fund in reviving the Palestinian capital markets.