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NDC Schemes and the Labor Market : Issues and Options

Author

Listed:
  • Holzmann,Robert
  • Robalino,David A.
  • Winkler,Hernan Jorge

Abstract

Defined contribution (DC) schemes whether unfunded or funded are often considered superior to defined benefit (DB) schemes in their ability to address labor market issues, particularly in encouraging formal employment and delayed retirement. Conceptually, the assessment is based on superior incentives to work and save. Yet economic and social realities are more complex. This paper explores design and labor market conditions that potentially constrain DC schemes. The paper concludes that to achieve their conceptual potential, DC schemes require design innovations, including a better integration of basic provisions and complementary labor policies that promote job creation inthe formal sector and expand job opportunities during old age.

Suggested Citation

  • Holzmann,Robert & Robalino,David A. & Winkler,Hernan Jorge, 2019. "NDC Schemes and the Labor Market : Issues and Options," Social Protection Discussion Papers and Notes 136565, The World Bank.
    • Handle: RePEc:wbk:hdnspu:136565
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    Cited by:

    1. Holzmann, Robert & Alonso-García, Jennifer & Labit-Hardy, Heloise & Villegas, Andres M., 2017. "NDC Schemes and Heterogeneity in Longevity: Proposals for Redesign," IZA Discussion Papers 11193, Institute of Labor Economics (IZA).
    2. Bernd Genser & Robert Holzmann, 2019. "National Pension Policy and Globalization: A New Approach to Strive for Efficient Portability and Equitable Taxation," Working Paper Series of the Department of Economics, University of Konstanz 2019-04, Department of Economics, University of Konstanz.

    More about this item

    Keywords

    Rural Labor Markets; Pensions&Retirement Systems; Labor Markets; Population&Development;
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