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2005•Journal of the European Economic AssociationRequires access

From Traditional DB to Notional DC Systems: The Pension Reform Process in Sweden, Italy, and Germany

Axel H. Borsch-Supan

Open publisher page 44 citations

Abstract

This paper provides a critical review of the pension reform strategy that 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: H55, J14, J26)

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What this paper is about

This paper provides a critical review of the pension reform strategy that 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: H55, J14, J26)

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OpenAlex reports 44 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

This paper provides a critical review of the pension reform strategy that 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: H55, J14, J26)

Key concepts: Notional amount, Pension, Pension system, Economics, Process (computing), Business, Finance, Computer science

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