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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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    Cited by:

    1. 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.
    2. 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.
    3. 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.
    4. 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, September.
    5. Barr, Nicholas, 2019. "Gender and family: conceptual overview," LSE Research Online Documents on Economics 101237, London School of Economics and Political Science, LSE Library.

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