The Norwegian NDC Scheme : Balancing Risk Sharing and Redistribution

The Norwegian NDC Scheme : Balancing Risk Sharing and Redistribution

The main goals of reforming the Norwegian old-age pension system toward nonfinancial defined contributions (NDC) in 2011 were to improve long-run fiscal sustainability and labor supply incentives. Maintaining much of the redistributive effects of t...

Full description

Bibliographic Details
Main Authors: Stølen, Nils Martin, Fredriksen, Dennis, Hernæs, Erik, Holmøy, Erling
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2019
Subjects:
PENSION REFORM
EARLY RETIREMENT
LABOR SUPPLY
INCOME DISTRIBUTION
FISCAL SUSTAINABILITY
Online Access:http://documents.worldbank.org/curated/en/956771556879609873/The-Norwegian-NDC-Scheme-Balancing-Risk-Sharing-and-Redistribution
http://hdl.handle.net/10986/31629
id okr-10986-31629
recordtype oai_dc
spelling okr-10986-316292021-05-25T09:23:29Z The Norwegian NDC Scheme : Balancing Risk Sharing and Redistribution Stølen, Nils Martin Fredriksen, Dennis Hernæs, Erik Holmøy, Erling PENSION REFORM EARLY RETIREMENT LABOR SUPPLY INCOME DISTRIBUTION FISCAL SUSTAINABILITY The main goals of reforming the Norwegian old-age pension system toward nonfinancial defined contributions (NDC) in 2011 were to improve long-run fiscal sustainability and labor supply incentives. Maintaining much of the redistributive effects of the former public pension system was also an important concern. Econometric analyses reveal the 2011 reform’s significant effects on postponing retirement. Results from a dynamic microsimulation model show that the reform is expected to have substantial effects on old-age pension expenditures in the long run without any large negative distributional effects. Macroeconomic analyses indicate that the reform is likely to make a great fiscal impact in the long run, and higher employment plays an important role in this aspect. 2019-05-06T21:06:05Z 2019-05-06T21:06:05Z 2019-04 Working Paper http://documents.worldbank.org/curated/en/956771556879609873/The-Norwegian-NDC-Scheme-Balancing-Risk-Sharing-and-Redistribution http://hdl.handle.net/10986/31629 English Social Protection and Jobs Discussion Paper,no. 1905; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper Europe and Central Asia Norway
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic PENSION REFORM
EARLY RETIREMENT
LABOR SUPPLY
INCOME DISTRIBUTION
FISCAL SUSTAINABILITY
spellingShingle PENSION REFORM
EARLY RETIREMENT
LABOR SUPPLY
INCOME DISTRIBUTION
FISCAL SUSTAINABILITY
Stølen, Nils Martin
Fredriksen, Dennis
Hernæs, Erik
Holmøy, Erling
The Norwegian NDC Scheme : Balancing Risk Sharing and Redistribution
geographic_facet Europe and Central Asia
Norway
relation Social Protection and Jobs Discussion Paper,no. 1905;
description The main goals of reforming the Norwegian old-age pension system toward nonfinancial defined contributions (NDC) in 2011 were to improve long-run fiscal sustainability and labor supply incentives. Maintaining much of the redistributive effects of the former public pension system was also an important concern. Econometric analyses reveal the 2011 reform’s significant effects on postponing retirement. Results from a dynamic microsimulation model show that the reform is expected to have substantial effects on old-age pension expenditures in the long run without any large negative distributional effects. Macroeconomic analyses indicate that the reform is likely to make a great fiscal impact in the long run, and higher employment plays an important role in this aspect.
format Working Paper
author Stølen, Nils Martin
Fredriksen, Dennis
Hernæs, Erik
Holmøy, Erling
author_facet Stølen, Nils Martin
Fredriksen, Dennis
Hernæs, Erik
Holmøy, Erling
author_sort Stølen, Nils Martin
title The Norwegian NDC Scheme : Balancing Risk Sharing and Redistribution
title_short The Norwegian NDC Scheme : Balancing Risk Sharing and Redistribution
title_full The Norwegian NDC Scheme : Balancing Risk Sharing and Redistribution
title_fullStr The Norwegian NDC Scheme : Balancing Risk Sharing and Redistribution
title_full_unstemmed The Norwegian NDC Scheme : Balancing Risk Sharing and Redistribution
title_sort norwegian ndc scheme : balancing risk sharing and redistribution
publisher World Bank, Washington, DC
publishDate 2019
url http://documents.worldbank.org/curated/en/956771556879609873/The-Norwegian-NDC-Scheme-Balancing-Risk-Sharing-and-Redistribution
http://hdl.handle.net/10986/31629
_version_ 1764474766296612864

Similar Items