Tag: pensions
Introduction Over the past decade, a notable shift has occurred within defined benefit pensions — away from traditional plans and towards hybrids, such as cash balance plans. Along the way, the movement to cash balance plans has been met with substantial resistance. Critics argue that cash balance plans discriminate against older workers and that employers…
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…
