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Administrative Requirements and Prospects for Universal NDCs in Emerging Economies / Robert Palacios.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Palacios, Robert.
- Series:
- Social Protection and Labor Discussion Papers.
- World Bank e-Library.
- Social Protection and Labor Discussion Papers
- Language:
- English
- Subjects (All):
- Notional Defined Contribution.
- Pension Administration.
- Pension Reform.
- Pensions and Retirement Systems.
- Public Sector Development.
- Social Protections and Labor.
- Local Subjects:
- Notional Defined Contribution.
- Pension Administration.
- Pension Reform.
- Pensions and Retirement Systems.
- Public Sector Development.
- Social Protections and Labor.
- Place of Publication:
- Washington, D.C. : The World Bank, 2019.
- System Details:
- data file
- Summary:
- Many public policies are impossible to implement without adequate administrative systems in place. This is true for modern pension schemes and in particular, notional defined contribution (NDC) schemes. Today these systems must be digital yet most pension systems predate computerization and must find a way to bridge past and present. The shift from defined benefit (DB) to NDC brings particular challenges in recordkeeping. This paper briefly reviews the administrative requirements of NDCs and offers a simple checklist for countries considering this type of reform. The last section describes a universal NDC scheme that harnesses the modern digital infrastructure that may allow developing countries to overcome the limitations of traditional contributory systems and their reliance on payroll taxes.
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