Pension Reform : Issues and Prospects for Non-Financial Defined Contribution (NDC) Schemes

by Holzmann, Robert; Palmer, Edward E.

• ISBN13: 9780821360385
• ISBN10: 0821360388
• Format: Paperback
• Copyright: 2006-02-28
• Publisher: World Bank

Summary

This book is based on an international conference organized by the World Bank and the Swedish National Social Insurance board held in Sandhamn, Sweden in October 2003. It addressed the question of what non-financial, or notional, defined contribution plans (NDCs) bring to pension reform and presents 24 papers on the conceptual foundations and issues surrounding NDCs, country implementation of NDCs (Italy, Latvia, Poland, and Sweden), and case studies for countries where NDCs are figured in the reform debate.

Table of Contents

Preface	xi
Anna Hedborg
Acronyms and Abbreviations	xiii
The Status of the NDC Discussion: Introduction and Overview	1	(16)
Robert Holzmann
Edward Palmer
Part I. The Concept of Non-Financial Defined Contribution System---Variations on a Theme
What Is NDC?	17	(18)
Edward Palmer
What Are NDC Systems? What Do They Bring to Reform Strategies?	35	(22)
Axel H. Borsch-Supan
Non-Financial Defined Contribution Pensions: Mapping the Terrain	57	(14)
Nicholas Barr
Conceptualization of Non-Financial Defined Contribution Systems	71	(24)
Assar Lindbeck
Peter Diamond
Salvador Valdes-Prieto
Part II. Conceptual Issues of Design and Implementation
Demographic Uncertainty and Evaluation of Sustainability of Pension Systems	95	(22)
Juha M. Alho
Jukka Lassila
Tarmo Valkonen
Discussant
Sergio Nistico
The Rate of Return of Pay-As-You-Go Pension Systems: A More Exact Consumption-Loan Model of Interest	117	(32)
Ole Settergren
Boguslaw D. Mikula
Discussant
Ronald Lee
A Market Method to Endow NDC Systems with Automatic Financial Stability	149	(20)
Salvador Valdes-Prieto
Discussant
Marek Gora
Conversion to NDCs---Issues and Models	169	(34)
Edward Palmer
Discussants
Marek Gora
Elsa Fornero
NDCs: A Comparison of the French and German Point Systems	203	(22)
Florence Legros
Discussant
Marek Gora
Toward a Coordinated Pension System in Europe: Rationale and Potential Structure	225	(68)
Robert Holzmann
Discussant
Bernd Marin
NDC Pension Schemes in Middle- and Low-Income Countries	293	(32)
David Lindeman
David Robalino
Michal Rutkowski
Discussants
Monika Queisser
Elaine Fultz
How Much Do People Need to Know about Their Pensions and What Do They Know?	325	(20)
Annika Sunden
Discussant
John Ameriks
Lashed to the Mast? The Politics of NDC Pension Reform	345	(52)
Sarah M. Brooks
R. Kent Weaver
Discussants
Daniele Franco
Agneta Kruse
Part III. Lessons from Countries with Non-Financial Defined Contribution Schemes
NDC Strategy in Latvia: Implementation and Prospects for the Future	397	(28)
Edward Palmer
Sandra Stabina
Ingemar Svensson
Inta Vanovska
The NDC System in Poland: Assessment after Five Years	425	(24)
Agnieszka Chlon-Dominczak
Marek Gora
The NDC Reform in Sweden: The 1994 Legislation to the Present	449	(18)
Bo Konberg
Edward Palmer
Annika Sunden
NDCs in Italy: Unsatisfactory Present, Uncertain Future	467	(26)
Daniele Franco
Nicola Sartor
Implementing the NDC Theoretical Model: A Comparison of Italy and Sweden	493	(26)
Sandro Gronchi
Sergio Nistico
Part IV. The Potential of Non-Financial Defined Contribution Schemes in Other Countries' Reforms
Investigating the Introduction of NDCs in Austria	519	(32)
Bernhard Felderer
Reinhard Koman
Ulrich Schuh
The NDC Reform in the Czech Republic	551	(22)
Agnieszka Chlon-Dominczak
Marek Mora
The German Public Pension System: How It Will Become an NDC System Look-Alike	573	(38)
Axel H. Borsch-Supan
Christina B. Wilke
The Spanish Pension System: Issues of Introducing NDCs	611	(28)
Carlos Vidal-Melia
Inmaculada Dominguez-Fabian
Reforming Social Security in Japan: Is NDC the Answer?	639	(10)
Noriyuki Takayama
Contributors	649	(8)
Index	657