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dc.contributor.authorHolzmann, Robert
dc.identifier.citationHolzmann R. (2019), The ABCs of NDCs, Roma, INAPP, WP, n. 19 <>en_US
dc.description.abstractNonfinancial defined contribution (NDC) pension schemes have been successfully implemented since the mid-1990s in a number of European countries (Sweden. Italy, Latvia, Poland, and Norway). 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.en_US
dc.titleThe ABCs of NDCsen_US
dc.typeWorking Paperen_US
dc.type.relationWorking Paper;
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