Savings trapped, no social protection: Lebanon’s retirees left to fend for themselves
Seven years into the crisis, retirees are selling property, looking for work, or turning to their children as their savings and social protection remain out of reach.
BEIRUT — When Elissa* pictured retirement, she always imagined herself resting after years of hard work, enjoying a slower pace of life and spending more time with her children and grandchildren. A doctor who worked on contract as a medical controller at the Public Health Ministry, she and her husband had spent years saving for that next chapter.But just weeks after turning 64 and retiring last September, Elissa is already considering looking for a new job. More from Stephanie Bank accounts of Riad Salameh, his brother, and 9 others frozen in Lebanon Her husband, who retired in 2019, began working as a consultant for a modest income, after “losing a lifetime’s savings” to Lebanon’s economic collapse in late 2019, Elissa lamented. Since then, their money, illegally trapped in banks, has been subject to Banque du Liban (BDL) circulars...
BEIRUT — When Elissa* pictured retirement, she always imagined herself resting after years of hard work, enjoying a slower pace of life and spending more time with her children and grandchildren. A doctor who worked on contract as a medical controller at the Public Health Ministry, she and her husband had spent years saving for that next chapter.But just weeks after turning 64 and retiring last September, Elissa is already considering looking for a new job. More from Stephanie Bank accounts of Riad Salameh, his brother, and 9 others frozen in Lebanon Her husband, who retired in 2019, began working as a consultant for a modest income, after “losing a lifetime’s savings” to Lebanon’s economic collapse in late 2019, Elissa lamented. Since then, their money, illegally trapped in banks, has been subject to Banque du Liban (BDL)...
You have reached your article limit
Stay informed about a Middle East in crisis.
Subscribe now and save 30%: just $8.9/month instead of $12.9.
Offer sent. We hope to welcome you among our subscribers.
Would you like to support L’Orient Today?
Lebanon is in danger of collapse. We need you more than ever. By supporting us, you will allow us to continue to fulfill our mission and provide you with continuous, independent, quality information.
Offer sent. We hope to welcome you among our subscribers.
Would you like to support L’Orient Today?
Lebanon is in danger of collapse. We need you more than ever. By supporting us, you will allow us to continue to fulfill our mission and provide you with continuous, independent, quality information.
Dear readers, to help ensure that your comments are approved without issue by L'Orient Today’s moderators, we invite you to review our moderation charter.