This is the third publication to analyze progress, challenges, and adjustment options of this reform revolution for mandated public pension schemes. The individual account-based but unfunded approach that promises fair and financially sustainable benefits is a reform benchmark for all pension schemes. Nonfinancial defined contribution (NDC) schemes originated in the 1990s independently in Italy and Sweden, were then adopted by Latvia, Poland, and Norway, envisaged but not implemented in various other countries (such as Egypt and Russia), and remain under discussion in many countries across the world (such as China and France). In its complete form, the approach also comprises budget-financed basic income provisions and mandated or voluntary funded provisions. Volume 1 offers an assessment of early reform countries before addressing key aspects of policy implementation and design review, including: how to best combine basic income provisions with NDC; how to deal with heterogeneity in longevity; and how to adjust NDC design and labor market policies to deliver on reform expectations. Volume 2 addresses a second set of important issues, including: the gender pension gap and what family policies can do within the NDC frame; the administrative challenges of NDCs and how countries are coping; the role of communication in NDCs; and the complexity of cross-border pension taxation, and much more
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Offering public pensions with an account scheme that pays out what one paid in plus interest, and that keeps the system financially sound while not using financial markets has emerged as a reform benchmark for all pension schemes worldwide. The publication analyses country experiences, design and operational challenges, and solutions.
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Produktdetaljer

ISBN
9781464814556
Publisert
2019-10-30
Utgiver
Vendor
World Bank Publications
Høyde
250 mm
Aldersnivå
P, 06
Språk
Product language
Engelsk
Format
Product format
Heftet
Antall sider
376

Forfatter