From Traditional DB to Notional DC Systems: reframing PAYG contributions to "notional savings"

Axel Börsch-Supan

No 04-64, Papers from Sonderforschungsbreich 504

Abstract: This paper provides a critical review of the pension reform strategy which turns defined benefits (DB) public pay-as-you-go systems into notional defined contribution (NDC) systems. We show that properly designed NDC public pension systems contain powerful economic and political mechanisms that may facilitate pension reform, but that the distinction between public NDC and DB systems is more ambiguous than usually claimed.

JEL-codes: H55 J14 J26 (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:mnh:spaper:2684

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