THEORETICAL FOUNDATIONS OF PAY-AS-YOU-GO DEFINED-CONTRIBUTION PENSION SCHEMES

Sandro Gronchi and Sergio Nisticò ()

Metroeconomica, 2008, vol. 59, issue 2, pages 131-159

Abstract: The paper inquires into notional defined contribution pension schemes, which retain the pay-as-you-go financing method while adopting the award and indexation formulas typical of funded, defined-contribution systems. It examines the properties of the new arrangement and compares them with those of the traditional defined-benefit pay-as-you-go schemes. Copyright © 2008 The Authors.

Date: 2008

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