THE MEASURES ADOPTED TO RE ESTABLISH FINANCIAL EQUILIBRIUM IN ALGERIA'S NATIONAL RETIREMENT FUND

Abstract In this paper, we look at the economic measures taken to restore financial stability at the level of the Caisse Nationale des Retraites (CNR) in Algeria to deal with the impact of the socio-demographic pressures, labour market issues, and the structural deficits in the social security systems. The most pertinent of these reforms are what public authorities are calling ‘Parametric and financial reforms’, which include the adjustment, alteration, and diversification of budget transfers and funding (State) as well as the changes in Contributory conditions. The study uses a descriptive and analytical method on which to base these measures and on which to assess the effectiveness of CNR in terms of balance and sustainabi8litiy with the associated deficits, with the measures derived from official statistics, legal texts and financial reports. The CNR measures do provide short-term financial support and with the aforementioned reforms, do assist in improving the liquidity positions. However, these reforms do leave a long-term sustainabil8ty challenge, w8h the liquidity being tight. The CNR systems integrated financial balance to assist defusing a better intergenerational equity in the pension system. The reforms lean towards being comprehensive, CNR deficits do need better Structural labour market policies, improved governance and at best these policies need integrated systemic change in the social variables to address the remaining equity in the pension systems.