Automatic balance mechanisms for notional defined contribution pension systems guaranteeing social adequacy and financial sustainability: an application to the Italian pension system

Since the mid 1990s some European countries (including Italy) implemented a Notional Defined Contribution (NDC) pension system. Such a system is based on pay-as-you-go funding, while the pension amount is a function of the individual lifelong contribution. Despite many appealing features, the NDC sy...

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Bibliographic Details
Published in:	Annals of operations research Vol. 299; no. 1-2; pp. 765 - 795
Main Authors:	Devolder, Pierre, Levantesi, Susanna, Menzietti, Massimiliano
Format:	Journal Article
Language:	English
Published:	New York Springer US 01.04.2021 Springer Springer Nature B.V
Subjects:	Adequacy Analysis Business and Management Combinatorics Comparative analysis Defined contribution plans Financial management Operations research Operations Research/Decision Theory Optimization Optimization techniques Pensions Retirement S.I.: Recent Developments in Financial Modeling and Risk Management Social security Sustainability Theory of Computation Italy Financial sustainability Social adequacy Notional Defined Contribution pension systems Automatic balance mechanisms Optimization
ISSN:	0254-5330, 1572-9338
Online Access:	Get full text
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