Archive: Matthew Williams

Cheerful senior man at home looking at his mail

The Notional Defined Contribution Model: An Assessment of the Strengths and Limitations of a New Approach to Provision of Old Age Security

Working Paper by and

October 1, 2003

Abstract Most public old-age pension schemes around the world are based at least in part on the pay-as-you-go defined benefit (PAYGO DB) model. As these schemes have matured and the limitations of this approach have become more salient, pension experts have begun considering alternative models. The Notional Defined Contribution (NDC) model, which is also financed…