Tag: pay-as-you-go individual accounts

Assessing The Notional Defined Contribution Model

Issue Brief by John B. Williamson

October 17, 2004

Introduction The structure of pension systems varies by two key dimensions: the way in which benefits are determined and the way in which they are financed. The determination of benefits follows one of two main methods: (1) the defined benefit approach, in which benefits are based on a formula that relies on how much workers…

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