The article presents the IPAYG (Improved Pay-As-You-Go) pension system, a new proposal, and compares it to the NDC (the Notional Defined Contribution), adopted in Italy (where it is known as "Dini/Fornero") and in a handful of other countries. IPAYG performs at least as well as NDC in a number of respects and outperforms it in others, including viability and optimum balance between actuarial equity and redistribution.
Pensioni e demografia in Italia: alcune considerazioni e una proposta / Gustavo De Santis. - In: RIVISTA DEL DIRITTO DELLA SICUREZZA SOCIALE. - ISSN 1720-562X. - STAMPA. - (2022), pp. 389-422. [10.3241/105237]
Pensioni e demografia in Italia: alcune considerazioni e una proposta
Gustavo De Santis
2022
Abstract
The article presents the IPAYG (Improved Pay-As-You-Go) pension system, a new proposal, and compares it to the NDC (the Notional Defined Contribution), adopted in Italy (where it is known as "Dini/Fornero") and in a handful of other countries. IPAYG performs at least as well as NDC in a number of respects and outperforms it in others, including viability and optimum balance between actuarial equity and redistribution.
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