DISCUSSION PAPER PI-0913
NDC v FDC: Pros, Cons and Replication
This paper examines the advantages and disadvantages of non-financial defined contribution (NDC) pension plans relative to financial defined contribution (FDC) pension plans. It also shows how an NDC outcome can be replicated in a FDC framework.
JEL Classification: J11, J14
Keywords:- non-financial defined contribution, financial defined contribution