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The Politics of NDC Pension Scheme Diffusion : Constraints and Drivers

Author

Listed:
  • Guardiancich,Igor
  • Weaver,R. Kent
  • Demarco,Gustavo C.
  • Dorfman,Mark Charles

Abstract

Nonfinancial defined contribution (NDC) schemes offer governments desirable properties in terms of efficiency, fairness, and financial sustainability and an opportunity to deflect the blame for pension cuts. Yet adoptions of NDC schemes largely ground to a halt and several countries retreated from NDC implementation after legislation. Lack of support from powerful international actors is partly to blame, as is the perceived rigidity of NDC in reducing room for policy maneuver. Correct implementation requires substantial administrative capacity. Less demanding automatic stabilizing mechanisms undercut the appeal of NDC in the European Union. Thus, while being an important option for policy makers and a benchmark against which to measure alternative reforms, NDC is unlikely to become the dominant pension design choice anytime soon.

Suggested Citation

  • Guardiancich,Igor & Weaver,R. Kent & Demarco,Gustavo C. & Dorfman,Mark Charles, 2019. "The Politics of NDC Pension Scheme Diffusion : Constraints and Drivers," Social Protection Discussion Papers and Notes 136556, The World Bank.
    • Handle: RePEc:wbk:hdnspu:136556
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    Citations

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    Cited by:

    1. Nils Martin Stølen & Dennis Fredriksen & Erik Hernæs & Erling Holmøy, 2019. "The Norwegian NDC Scheme," World Bank Publications - Reports 31629, The World Bank Group.
    2. Marek Góra & Edward Palmer, 2019. "Ndc," World Bank Publications - Reports 31631, The World Bank Group.
    3. Ivan Shulga & Lev Shilov & Anna Sukhova & Peter Pojarski, 2019. "Can Local Participatory Programs Enhance Public Confidence," World Bank Publications - Reports 31810, The World Bank Group.
    4. Shrayana Bhattacharya & Sutirtha Sinha Roy, 2021. "Intent to Implementation," World Bank Publications - Reports 35746, The World Bank Group.
    5. Banyár, József, 2020. "Miként javítható az állami nyugdíjrendszer? Öt lehetséges lépés egy átfogó reformhoz [How can the state pension system be improved? Five possible steps to comprehensive reform]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(6), pages 632-652.
    6. Bhattacharya,Shrayana & Sinha Roy,Sutirtha, 2021. "Intent to Implementation : Tracking India’s Social Protection Response to COVID-19," Social Protection Discussion Papers and Notes 160059, The World Bank.
    7. Robert Palacios, 2019. "Administrative Requirements and Prospects for Universal NDCs in Emerging Economies," World Bank Publications - Reports 31704, The World Bank Group.
    8. Anna Klerby & Bo Larsson & Edward Palmer, 2019. "Bridging Partner Lifecycle Earnings and Pension Gaps by Sharing NDC Accounts," World Bank Publications - Reports 31649, The World Bank Group.
    9. Will Sandbrook & Ranila Ravi-Burslem, 2019. "Communicating NEST Pensions for 'New' DC Savers in the United Kingdom," World Bank Publications - Reports 31652, The World Bank Group.
    10. Sandro Gronchi & Sergio Nisticò & Mirko Bevilacqua, 2019. "The Italian NDC Scheme," World Bank Publications - Reports 31647, The World Bank Group.
    11. Abdul Hadi & Emese Bruder & Widhayani Puri Setioningtyas, 2022. "Comparison of the World’s Best Pension Systems: The Lesson for Indonesia," Social Sciences, MDPI, vol. 11(10), pages 1-17, September.
    12. Jennifer Alonso-García & Robert Holzmann & Heloise Labit-Hardy & Andrés M. Villegas, 2019. "NDC Schemes and Heterogeneity in Longevity," World Bank Publications - Reports 31637, The World Bank Group.
    13. Klimczuk, Andrzej & Tomczyk, Łukasz, 2019. "Between Successful and Unsuccessful Ageing: Selected Aspects and Contexts," EconStor Books, ZBW - Leibniz Information Centre for Economics, volume 0, number 226194.
    14. Nicholas Barr, 2019. "Gender and Family," World Bank Publications - Reports 31650, The World Bank Group.
    15. Barr, Nicholas, 2019. "Gender and family: conceptual overview," LSE Research Online Documents on Economics 101237, London School of Economics and Political Science, LSE Library.
    16. Vibhuti Mendiratta & Amr Moubarak & Gabriel Lara Ibarra & John van Dyck & Marco Santacroce, 2020. "Expansion of Djibouti’s National Family Solidarity Program," World Bank Publications - Reports 34447, The World Bank Group.
    17. Saksham Khosla & Ugo Gentilini & Mohamed Almenfi, 2021. "Cash in the City," World Bank Publications - Reports 35003, The World Bank Group.
    18. Bo Larsson & Vincent Leyaro & Edward Palmer, 2019. "Harnessing a Young Nation’s Demographic Dividends through a Universal NDC Pension Scheme," World Bank Publications - Reports 31651, The World Bank Group.
    19. Elsa Fornero & Noemi Oggero & Riccardo Puglisi, 2019. "Information and Financial Literacy for Socially Sustainable NDC Pension Schemes," World Bank Publications - Reports 31703, The World Bank Group.

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