Koleksi World Bank
Nonfinancial defined contibution pension schemes in a chaning pension world
Nonfinancial defined contibution (NDC) schemes are now in their teens. The new pension concept was born in the early 1990s;implemented from the mid-1990s in Italy,Latvia,Poland and Sweden;legislated most recently in Norway and the Arab Republic of Egypt; and serves as inspiration for other countries. This innovative, unfunded individual account scheme provides a promising option at a time when the world seems locked into a stalemate between piecemeal reform of ailing traditional defined benefit plans or their replacement with prefunded financial account schemes.
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