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The ABCs of NDCs / Robert Holzmann.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Holzmann, Robert.
- Series:
- Social Protection and Labor Discussion Papers.
- World Bank e-Library.
- Social Protection and Labor Discussion Papers
- Language:
- English
- Subjects (All):
- Disability Insurance.
- Labor Market.
- Labor Markets.
- Pension Reform.
- Pensions and Retirement Systems.
- Social Protections and Labor.
- Local Subjects:
- Disability Insurance.
- Labor Market.
- Labor Markets.
- Pension Reform.
- Pensions and Retirement Systems.
- Social Protections and Labor.
- Place of Publication:
- Washington, D.C. : The World Bank, 2019.
- System Details:
- data file
- Summary:
- 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.
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