Developing Coherent Pension Systems : Design Issues for Private Pension Supplements to NDC Schemes
This paper reviews the design of private pensions alongside a notional defined contribution (NDC) – or public – component. A mix of public and private pensions is the bestway to deliver a strong combination of five core outcomes: coverage, adequacy...
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Online Access: | http://documents.worldbank.org/curated/en/148951556875885451/Developing-Coherent-Pension-Systems-Design-Issues-for-Private-Pension-Supplements-to-NDC-Schemes http://hdl.handle.net/10986/31644 |
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okr-10986-316442021-05-25T09:23:20Z Developing Coherent Pension Systems : Design Issues for Private Pension Supplements to NDC Schemes Price, William PENSION REFORM PENSIONS RETIREMENT INCOME BOND MARKET EQUITY MARKET NOTIONALLY DEFINED CONTRIBUTION PUBLIC PENSIONS ANNUITY MARKET This paper reviews the design of private pensions alongside a notional defined contribution (NDC) – or public – component. A mix of public and private pensions is the bestway to deliver a strong combination of five core outcomes: coverage, adequacy,sustainability, efficiency, and security. Choices for market structure, benefit type,contributions, and investment strategy can be guided by their impact on these outcomes.The clarity of an NDC formula allows the joint distribution of public and private pensions tobe modeled which can be crucial for optimal investment strategies given, for example, thenegative correlation between real per capita gross domestic product growth and equity markets over long periods. NDC payout formulas have broad applications where annuity markets are weak. 2019-05-07T15:30:36Z 2019-05-07T15:30:36Z 2019-04 Working Paper http://documents.worldbank.org/curated/en/148951556875885451/Developing-Coherent-Pension-Systems-Design-Issues-for-Private-Pension-Supplements-to-NDC-Schemes http://hdl.handle.net/10986/31644 English Social Protection and Jobs Discussion Paper,no. 1929; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper |
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World Bank Open Knowledge Repository |
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World Bank |
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English |
topic |
PENSION REFORM PENSIONS RETIREMENT INCOME BOND MARKET EQUITY MARKET NOTIONALLY DEFINED CONTRIBUTION PUBLIC PENSIONS ANNUITY MARKET |
spellingShingle |
PENSION REFORM PENSIONS RETIREMENT INCOME BOND MARKET EQUITY MARKET NOTIONALLY DEFINED CONTRIBUTION PUBLIC PENSIONS ANNUITY MARKET Price, William Developing Coherent Pension Systems : Design Issues for Private Pension Supplements to NDC Schemes |
relation |
Social Protection and Jobs Discussion Paper,no. 1929; |
description |
This paper reviews the design of private
pensions alongside a notional defined contribution (NDC) –
or public – component. A mix of public and private pensions
is the bestway to deliver a strong combination of five core
outcomes: coverage, adequacy,sustainability, efficiency, and
security. Choices for market structure, benefit
type,contributions, and investment strategy can be guided by
their impact on these outcomes.The clarity of an NDC formula
allows the joint distribution of public and private pensions
tobe modeled which can be crucial for optimal investment
strategies given, for example, thenegative correlation
between real per capita gross domestic product growth and
equity markets over long periods. NDC payout formulas have
broad applications where annuity markets are weak. |
format |
Working Paper |
author |
Price, William |
author_facet |
Price, William |
author_sort |
Price, William |
title |
Developing Coherent Pension Systems : Design Issues for Private Pension Supplements to NDC Schemes |
title_short |
Developing Coherent Pension Systems : Design Issues for Private Pension Supplements to NDC Schemes |
title_full |
Developing Coherent Pension Systems : Design Issues for Private Pension Supplements to NDC Schemes |
title_fullStr |
Developing Coherent Pension Systems : Design Issues for Private Pension Supplements to NDC Schemes |
title_full_unstemmed |
Developing Coherent Pension Systems : Design Issues for Private Pension Supplements to NDC Schemes |
title_sort |
developing coherent pension systems : design issues for private pension supplements to ndc schemes |
publisher |
World Bank, Washington, DC |
publishDate |
2019 |
url |
http://documents.worldbank.org/curated/en/148951556875885451/Developing-Coherent-Pension-Systems-Design-Issues-for-Private-Pension-Supplements-to-NDC-Schemes http://hdl.handle.net/10986/31644 |
_version_ |
1764474750602575872 |