From Traditional DB to Notional DC Systems
This paper provides a critical review of the pension reform strategy which turns defined benefits (DB) public pay-as-you-go systems into notional defined contribution (NDC) systems. We show that properly designed NDC public pension systems contain powerful economic and political mechanisms that may facilitate pension reform, but that the distinction between public NDC and DB systems is more ambiguous than usually claimed.
|Date of creation:||11 Nov 2004|
|Date of revision:|
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References listed on IDEAS
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- Valdes-Prieto, Salvador, 2000. " The Financial Stability of Notional Account Pensions," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(3), pages 395-417, June.
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- Borsch-Supan, Axel & Schnabel, Reinhold, 1998. "Social Security and Declining Labor-Force Participation in Germany," American Economic Review, American Economic Association, vol. 88(2), pages 173-78, May.
- Jonathan Gruber & David A. Wise, 1999. "Social Security and Retirement around the World," NBER Books, National Bureau of Economic Research, Inc, number grub99-1, September.
- Axel Boersch-Supan & Christina B. Wilke, 2004. "The German Public Pension System: How it Was, How it Will Be," NBER Working Papers 10525, National Bureau of Economic Research, Inc.
- Disney, Richard, 1999. "Notional accounts as a pension reform strategy : an evaluation," Social Protection and Labor Policy and Technical Notes 21302, The World Bank.
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