NDC v FDC: Pros, cons and replication
This paper examines the advantages and disadvantages of non-financial defined contribution (NDC) pension plans relative to financial defined contribution (FDC) pension plans. It also shows how an NDC outcome can be replicated in a FDC framework.
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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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- Palmer, Edward, 2011. "Generic NDC - Equilibrium, Valuation and Risk Sharing with and without NDC Bonds," Working Paper Series 2011:3, Uppsala University, Department of Economics.
- Andrew J. G. Cairns & David Blake & Kevin Dowd, 2006. "A Two-Factor Model for Stochastic Mortality with Parameter Uncertainty: Theory and Calibration," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 73(4), pages 687-718.
- Salvador Valdés-Prieto, 2004. "Response to Breyer," Scandinavian Journal of Economics, Wiley Blackwell, vol. 106(2), pages 389-390, 06.
- Blake, David, 2000. "Does It Matter What Type of Pension Scheme You Have?," Economic Journal, Royal Economic Society, vol. 110(461), pages 46-81, February.
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