Pension policy in China, Singapore, and South Korea: An assessment of the potential value of the notional defined contribution model

2012 ◽  
Vol 26 (1) ◽  
pp. 79-89 ◽  
Author(s):  
John B. Williamson ◽  
Meghan Price ◽  
Ce Shen
Keyword(s):  
South Korea ◽  
Defined Contribution ◽  
Pension Policy ◽  
Potential Value ◽  
Notional Defined Contribution

scholarly journals A Comparison of Lithuanian and Swedish Old Age Pension Systems

Ekonomika ◽  
2019 ◽  
Vol 98 (1) ◽  
pp. 38-59
Author(s):  
Teodoras Medaiskis ◽  
Šarūnas Eirošius
Keyword(s):  
Old Age ◽  
Point Of View ◽  
Defined Contribution ◽  
Pension Policy ◽  
Pension Systems ◽  
The Social ◽  
Swedish Experience ◽  
Notional Defined Contribution ◽  
And Performance ◽  
Definition Of

[full article and abstract in English] The aim of this study is to compare Lithuanian and Swedish pension systems from the point of view of their design and performance in order to elaborate reasonable recommendations to Lithuanian pension policy based on the best Swedish experience. Swedish income, premium and guaranteed old-age pensions system are compared with the analogous Lithuanian system of the “first,” “second” pillars and the “social” pensions. The main features of the systems are discussed, and the performance of the systems, mainly from the point of view of adequacy, is compared. The differences in system design and performance are identified, and the possible reasons of these differences are examined. Special attention is paid to differences in financing and the approach to the definition of benefits. The Lithuanian pension points approach is compared to the Swedish Notional Defined Contribution (NDC) approach. Each system is analyzed, and the relevance of transforming the Lithuanian first pillar pensions into a NDC system is examined.

Should a Survivorship Dividend Be Included in Notional Defined Contribution Accounts (NDCs)?

2013 ◽  
Author(s):  
Carlos Vidal-Melii ◽  
Marra del Carmen Boado-Penas ◽  
Francisco Navarro-Cabo
Keyword(s):  
Defined Contribution ◽  
Notional Defined Contribution

scholarly journals Social Insurance Accounting for a Notional Defined Contribution Scheme Combining Retirement and Long-Term Care Benefits.

2018 ◽  
Vol 10 (8) ◽  
pp. 2832 ◽  
Author(s):  
Carlos Vidal-Meliá ◽  
Manuel Ventura-Marco ◽  
Juan Manuel Pérez-Salamero González
Keyword(s):  
Social Insurance ◽  
Long Term Care ◽  
Balance Sheet ◽  
Defined Contribution ◽  
Term Care ◽  
Income Statement ◽  
Accounting Model ◽  
Notional Defined Contribution ◽  
Double Entry

This paper develops a social insurance accounting model for a notional defined contribution (NDC) scheme combining retirement and long-term care (LTC) contingencies. The procedure relies on standard double-entry bookkeeping and enables us to compile a “Swedish” type actuarial balance sheet (ABS) following a framework equivalent to an open group approach. This methodology is suitable for reporting the system’s solvency status and can show periodical changes in the system’s financial position by means of an income statement. The information underpinning the actuarial valuation is based on events and transactions that are verifiable at the valuation date, without considering expected future trends. The paper also contains an illustrative example to make it easier for policymakers to understand the main advantages and difficulties of our proposal. The policy conclusions stress the need to properly report social insurance benefits to enhance transparency and sustainability and to improve decision-making because it is in the public interest to do so.

scholarly journals Retirement Ages by Socio-Economic Class

Risks ◽  
2020 ◽  
Vol 8 (4) ◽  
pp. 102
Author(s):  
Séverine Arnold ◽  
Anca Jijiie
Keyword(s):  
Risk Aversion ◽  
Time Preference ◽  
Retirement Age ◽  
Defined Benefit ◽  
Defined Contribution ◽  
Policy Makers ◽  
Economic Class ◽  
Notional Defined Contribution

We are interested in defining the optimal retirement age by socio-economic class, given a Defined Benefit and a Notional Defined Contribution scheme. We firstly implement a utilitarian framework. Depending on the risk aversion coefficients and individual time preference factors, the results differ significantly. Since this approach is individualistic, with no consensus in the existing literature on what values these parameters should take, it is not suitable to be used by policy makers. Therefore, we provide an alternative based on two accounts. We look for the retirement age allowing the accumulated value, at the last age with survivors, of the pensions received under each system, held in one account, to be close in value to the accumulated amount should the actuarially fair pension be paid, representing the second account. Our approach results in setting a lower retirement age for lower socio-economic classes and a higher retirement age for wealthier individuals.

Subjective Economic Risk to Beneficiaries in Notional Defined Contribution Accounts

2006 ◽  
Vol 73 (3) ◽  
pp. 489-515 ◽  
Author(s):  
Carlos Vidal-Melia ◽  
Inmaculada Dominguez-Fabian ◽  
Jose Enrique Devesa-Carpio
Keyword(s):  
Defined Contribution ◽  
Economic Risk ◽  
Notional Defined Contribution
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