NDC : The Generic Old-Age Pension Scheme

Gó ; ra, Marek ; Palmer, Edward

World Bank, Washington, DC

关键词: PENSION REFORM;    UNIVERSAL PUBLIC PENSION SCHEME;    DEFINED CONTRIBUTION;    DEFINED BENEFIT;    NONFINANCIAL DEFINED CONTRIBUTIONS;   

RP-ID  :  136551

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper defines a universal publicpension scheme (UPPS) as a government mandated lifecyclelongevity insurance scheme that transfers individualconsumption from the working years to retirement. Itdiscusses the differences in four UPPS designs designated aseither defined contribution (DC) or defined benefit (DB),and financial or nonfinancial. With individual DC accounts,the ball is in the individual’s court. The transparent linkbetween contributions and retirement income is the enablerof efficiency that through marginal decisions to chooseformal work over informal work or leisure and to postponeretirement marginally toward the end of the working life,supports affordability and sustainability for a chosen levelof adequacy. Hence, UPPS-DC designs are found superior toUPPS-DB designs.