Developing coherent pension systems: design issues for private pension supplements to NDC schemes

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dc.contributor.author Price, William
dc.date.accessioned 2019-08-01T13:53:31Z
dc.date.available 2019-08-01T13:53:31Z
dc.date.issued 2019-08-01
dc.identifier.citation Price W. (2019), Developing coherent pension systems: design issues for private pension supplements to NDC schemes, Roma, INAPP, WP; 40 <http://oa.inapp.org/xmlui/handle/123456789/477> en_US
dc.identifier.uri http://oa.inapp.org/xmlui/handle/123456789/477
dc.description.abstract This paper reviews the design of private pensions alongside a notional defined contribution (NDC) – or public – component. A mix of public and private pensions is the best way to deliver a strong combination of five core outcomes: coverage, adequacy, sustainability, efficiency, and security. Choices for market structure, benefit type, contributions, and investment strategy can be guided by their impact on these outcomes. The clarity of an NDC formula allows the joint distribution of public and private pensions to be modeled – which can be crucial for optimal investment strategies given, for example, the negative correlation between real per capita gross domestic product growth and equity markets over long periods. NDC payout formulas have broad applications where annuity markets are weak. en_US
dc.language.iso en en_US
dc.subject Pensionamento en_US
dc.subject Pensione en_US
dc.title Developing coherent pension systems: design issues for private pension supplements to NDC schemes en_US
dc.type Working Paper en_US


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