The Latvian NDC Scheme: Success Under a Decreasing Labor Force
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 f...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2019
|
| Schriftenreihe: | World Bank E-Library Archive
|
| Online-Zugang: | Volltext |
| Zusammenfassung: | 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 the threat of a projected 50 percent decline in the working-age population. Budgeted reserves will cushion the continued transition into a two-pillar public pension scheme. Latvia's most important long-term policy challenge is to create the domestic investments and economic growth to reward younger workers for remaining in the country |
| Beschreibung: | 1 Online-Ressource |
| DOI: | 10.1596/31648 |
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| spellingShingle | Palmer, Edward The Latvian NDC Scheme Success Under a Decreasing Labor Force |
| title | The Latvian NDC Scheme Success Under a Decreasing Labor Force |
| title_auth | The Latvian NDC Scheme Success Under a Decreasing Labor Force |
| title_exact_search | The Latvian NDC Scheme Success Under a Decreasing Labor Force |
| title_exact_search_txtP | The Latvian NDC Scheme Success Under a Decreasing Labor Force |
| title_full | The Latvian NDC Scheme Success Under a Decreasing Labor Force Edward Palmer |
| title_fullStr | The Latvian NDC Scheme Success Under a Decreasing Labor Force Edward Palmer |
| title_full_unstemmed | The Latvian NDC Scheme Success Under a Decreasing Labor Force Edward Palmer |
| title_short | The Latvian NDC Scheme |
| title_sort | the latvian ndc scheme success under a decreasing labor force |
| title_sub | Success Under a Decreasing Labor Force |
| url | https://doi.org/10.1596/31648 |
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