Print this page

 

DISCUSSION PAPER PI-0913

NDC v FDC: Pros, Cons and Replication

David Blake

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