The Latvian NDC Scheme : Success Under a Decreasing Labor Force (English)

Latvia introduced a nonfinancial defined contribution (NDC) scheme in 1996 as it transitioned to a market economy. Despite a 20 percent decline in the working-age population from 1994–2016, the ratio of contributors to old-age pensioners rose from 1.6 to 2.1 given a steady increase in formal labor force participation and 5-6 percent real per capita wage growth. Projections show that long-term financial balance will be maintained through 2070, despite...

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Author

Palmer, Edward;

Stabina,Sandra;
Document Date
2019/04/01
Document Type
Working Paper (Numbered Series)
Report Number
136546
Volume No
1
Total Volume(s)
1
Country
Latvia,
Region
Europe and Central Asia,
Disclosure Date
2019/05/03
Disclosure Status
Disclosed
Doc Name
The Latvian NDC Scheme : Success Under a Decreasing Labor Force
Keywords
contribution rate

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Citation

Palmer, Edward; Stabina,Sandra.

The Latvian NDC Scheme : Success Under a Decreasing Labor Force (English). Social Protection and Jobs Discussion Paper|no. 1902 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/422531556878533144

The Latvian NDC Scheme : Success Under a Decreasing Labor Force (English)

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