This chapter defines a universal public pension scheme (UPPS) as a government-mandated lifecycle longevity insurance scheme that transfers individual consumption from the working years to the retirement phase of the lifecycle. It discusses the differences in four UPPS designs defined with regard...

This chapter defines a universal public pension scheme (UPPS) as a government-mandated lifecycle longevity insurance scheme that transfers individual consumption from the working years to the retirement phase of the lifecycle. It discusses the differences in four UPPS designs defined with regard...

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...

This paper defines a universal public pension scheme (UPPS) as a government mandated lifecycle longevity insurance scheme that transfers individual consumption from the working years to retirement. It discusses the differences in four UPPS designs designated as either defined contribution (DC)...

This paper identifies and discusses four issues in creating annuities in (nonfinancial) defined contribution (NDC) schemes that are essential for systems' financial stability and fair inter or intragenerational redistribution. The first issue is the choice between incorporating the rate of...

This is the third publication to analyze progress, challenges, and adjustment options of this reform revolution for mandated public pension schemes. The individual account-based but unfunded approach that promises fair and financially sustainable benefits is a reform benchmark for all pension...

This is the third publication to analyze progress, challenges, and adjustment options of this . reform revolution for mandated public pension schemes. The individual account-based but unfunded approach that promises fair and financially sustainable benefits is a reform benchmark for all pension...

This paper identifies and discusses four issues in creating annuities in (nonfinancial) defined contribution (NDC) schemes that are essential for systems’ financial stability and fair inter or intragenerational redistribution. The first issue is the choice between incorporating the rate of...

Front Cover -- Contents -- Preface -- Acknowledgments -- About the Authors -- Abbreviations -- Chapter 1. NDC: The Achievements and Challenges of Adulthood -- Part I Taking Stock -- Chapter 2. The Swedish NDC Scheme: Success on Track with Room for Reflection -- Chapter 3. The Latvian NDC Scheme:...