Pension Reform - World Bank Group

tion of “notional defined contribution” (NDC)1 accounts in some countries, namely, Italy ... Chapter 23. The Spanish Pension System: Issues of Int...

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mandate the participation in pension plans furnished by employers or pri- vate pension providers. Two reasons .... Financial assets fully back the promise made in this case, which is simply a return of the money in the ..... annuity from a life insur

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Chapter 17 ... own investments (in the former) and individual account managers (in the ... The aim of this chapter is to provide an overview of pension reform in ...

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