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The Latvian NDC Scheme: Success Under a Decreasing Labor Force

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dc.contributor.author Palmer, Edward
dc.contributor.author Stabina, Sandra
dc.date.accessioned 2019-07-31T12:02:00Z
dc.date.available 2019-07-31T12:02:00Z
dc.date.issued 2019-07-31
dc.identifier.citation Palmer E., Stabina S. (2019), The Latvian NDC Scheme: Success Under a Decreasing Labor Force, Roma, INAPP, WP, n. 13 <https://oa.inapp.org/xmlui/handle/20.500.12916/450> en_US
dc.identifier.uri https://oa.inapp.org/xmlui/handle/20.500.12916/450
dc.description.abstract Latvia introduced a nonfinancial defined contribution (NDC) scheme in 1996 as it transitioned to a market economy. Despite a 20 percent decline in the working-age population from 1994-2016, the ratio of contributors to old-age pensioners rose from 1.6 to 2.1 given a steady increase in formal labor force participation and 5-6 percent real per capita wage growth. Projections show that long-term financial balance will be maintained through 2070, despite the threat of a projected 50 percent decline in the working-age population. Budgeted reserves will cushion the continued transition into a two-pillar public pension scheme. Latvia’s most important long-term policy challenge is to create the domestic investments and economic growth to reward younger workers for remaining in the country. en_US
dc.language.iso en en_US
dc.publisher INAPP en_US
dc.subject Pensioni en_US
dc.subject Previdenza en_US
dc.title The Latvian NDC Scheme: Success Under a Decreasing Labor Force en_US
dc.type Working Paper en_US
dc.type.relation Working Paper;


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