The future in the GCC: The main policy options

The future in the GCC: The main policy options

As the GCC nations look to reform their EoSG and broader social security systems, three main policy options emerge that could align these systems more closely with international standards.

Establishing a publicly managed provident fund system dedicated to administering social security contributions for migrant workers would be one potential option. This model could offer greater transparency and accountability, ensuring the effective management of contributions.

Alternatively, the standard provident fund design itself could be enhanced to address its inherent limitations, particularly in terms of adherence to wider standards within the developed world.

Lastly, another option might involve the replacement of EoSG systems with full inclusion of non-local workers into national social security schemes, executed on the principle of equality of treatment. This would extend the full scope of social protection to this significant segment of the workforce, aligning with international norms and fostering social cohesion.

Each of these options presents its own set of advantages and challenges, requiring a nuanced understanding of their implications. Nonetheless, they collectively offer a roadmap for the GCC countries to construct more robust, equitable, and internationally compliant social security systems.