Marano, Angelo; Mazzaferro, Carlo; Morciano, Marcello - In: Giornale degli Economisti 71 (2012) 1, pp. 33-70
Public pension systems based on the Notional Defined Contribution (NDC) principle were introduced during the ‘90s in Italy, Sweden and Poland. They should realize actuarial equity and incentive neutrality. However, when one considers the presence of NDC pensions together with minimum and...