Archive: Sarah M. Brooks
![Cheerful senior man at home looking at his mail](https://crr.bc.edu/wp-content/uploads/2022/11/social_security_2-1536x1025.jpg)
Abstract Over the past decade, a number of countries have adopted a new form of pension system known as “notional defined contribution” (NDC) pensions. Like traditional defined benefit (DB) pensions, NDC pensions operate largely on a pay-as-you-go basis, but base benefits on total lifetime contributions rather than those in a specified number of peak earnings…