The Norwegian NDC Scheme

• Tác giả: Nils Martin Stølen
• Ngôn ngữ: eng
• Ký hiệu phân loại: 078.1 Journalism and newspapers in Scandinavia
• Thông tin xuất bản: World Bank, Washington, DC, 2019
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 323245
• Chủ đề: 1. EARLY RETIREMENT; 2. FISCAL SUSTAINABILITY; 3. INCOME DISTRIBUTION; 4. LABOR SUPPLY; 5. PENSION REFORM

Tóm tắt

The main goals of reforming the Norwegian old-age pension system toward nonfinancial defined contributions (NDC) in 2011 were to improve long-run fiscal sustainability and labor supply incentives. Maintaining much of the redistributive effects of the former public pension system was also an important concern. Econometric analyses reveal the 2011 reform's significant effects on postponing retirement. Results from a dynamic microsimulation model show that the reform is expected to have substantial effects on old-age pension expenditures in the long run without any large negative distributional effects. Macroeconomic analyses indicate that the reform is likely to make a great fiscal impact in the long run, and higher employment plays an important role in this aspect.