Description: Further DetailsTitle: Nonfinancial Defined Contribution Pension Schemes in a Changing Pension World: Volume 2Condition: NewSubtitle: Gender, Politics, and Financial StabilityEAN: 9780821394786ISBN: 9780821394786Publisher: World Bank PublicationsFormat: PaperbackRelease Date: 11/30/2012Description: Nonfinancial Defined Contribution (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 Egypt and serves as inspiration for other reform countries. This innovative unfunded individual account scheme created high hopes at a time when the world seemed to have been locked into a stalemate between piecemeal reforms of ailing traditional defined benefit schemes and introducing pre-funded financial account schemes. The experiences and conceptual issues of NDC in its childhood were reviewed in a prior anthology (Holzmann and Palmer, 2006). This new anthology serves to review its adolescence and with the aim of contributing to a successful adulthood. To this end the book offers a deep and comprehensive review of the experience of countries where NDC schemes have been in place for a decade or more, takes stock of the discussions of the place of NDCs in the world of pension reform, and addresses in detail important issues related to implementation and design, such as the of the “NDC story”, making transparent the legacy costs, financial accounting, balancing, creation of a reserve fund, gender, and longevity. The book also contains analyses of the pros and cons of NDC contra FDC and a typical paygo DB scheme in two Latin American countries. The key policy conclusions include: (i) NDC schemes work well (as documented by the experience of Italy, Latvia, Poland and Sweden during the crisis) but there is room to make them work even better; (ii) Go for an immediate transition to the new scheme to avoid future problems; (iii) Identify the legacy costs and their explicit financing during the transition as they will hit you otherwise soon; (iv) Adopt an explicit stabilising mechanism to guarantee solvency; (v) Establish a reserve fund to guarantee liquidity; (vi) Elaborate an explicit mechanism to share the systemic longevity risk; and, last but not least; (vii) Address the gender implications of NDC with deeper analysis and open political discourse.Language: EnglishCountry/Region of Manufacture: USContributor: Robert Holzmann (Edited by), Edward Palmer (Edited by), David Robalino (Edited by)Author: Robert HolzmannGenre: Business & FinanceRelease Year: 2012 Missing Information?Please contact us if any details are missing and where possible we will add the information to our listing.
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Book Title: Nonfinancial Defined Contribution Pension Schemes in a Changing P
Title: Nonfinancial Defined Contribution Pension Schemes in a Changing P
Subtitle: Gender, Politics, and Financial Stability
EAN: 9780821394786
ISBN: 9780821394786
Release Date: 11/30/2012
Release Year: 2012
Country/Region of Manufacture: US
Contributor: David Robalino (Edited by)
Genre: Business & Finance
Number of Pages: 542 Pages
Language: English
Publication Name: Nonfinancial Defined Contribution Pension Schemes in a Changing Pension World : Volume 2, Gender, Politics, and Financial Stability
Publisher: World Industries Bank Publications
Publication Year: 2012
Subject: Insurance / General
Item Height: 1 in
Item Weight: 32.4 Oz
Type: Textbook
Subject Area: Business & Economics
Author: Edward Palmer
Item Length: 10 in
Item Width: 7 in
Format: Trade Paperback
