The ABCs of NDCs

• Tác giả: Robert Holzmann
• Ngôn ngữ: eng
• Ký hiệu phân loại: 615.11 Pharmacopoeias
• Thông tin xuất bản: World Bank, Washington, DC, 2019
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 322302
• Chủ đề: 1. DISABILITY INSURANCE; 2. LABOR MARKET; 3. NOTIONALLY DEFINED CONTRIBUTION; 4. PENSION REFORM; 5. PENSIONS

Tóm tắt

Nonfinancial defined contribution (NDC) pension schemes have been successfully implemented since the mid-1990s in a number of European countries. The NDC approach features the lifelong contribution-benefit link of a financial defined contribution scheme, but is based on the pay-as-you-go format. An NDC approach implemented by the rulebook can manage the economic and demographic risks inherent to a pension scheme and by design creates financial sustainability. This paper offers a nontechnical introduction to NDC schemes, their basic elements and advantages over nonfinancial defined benefit schemes, the key technical frontiers of the approach, and the experiences of countries with NDC schemes.