Publication:
The Greek Pension Reforms: Crises and NDC Attempts Awaiting Completion

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dc.contributor.authorNektarios, Milton
dc.contributor.authorTinios, Platon
dc.date.accessioned2019-05-06T21:10:25Z
dc.date.available2019-05-06T21:10:25Z
dc.date.issued2019-04
dc.description.abstractGreece’s current pension system relies almost exclusively on the state and remains staunchly pay-as-you-go (PAYG) and defined benefit (DB). This paper offers a radical proposal for change: (i) a new multi-pillar notional and financial defined contribution (NDC and FDC) pension system for all generations first insured after 1993, with contribution rates for primary pensions reduced by 50 percent; and (ii) a transitional system for those first insured before 1993. The proposal’s robustness is tested actuarially for the period up to 2060. Though financing the legacy cost would be challenging, the quantitative exercise indicates that a radical pension reform, especially if implemented as a part of an overall recovery package, could set the country on a more favorable growth trajectory.en
dc.identifierhttp://documents.worldbank.org/curated/en/572351556878896140/The-Greek-Pension-Reforms-Crises-and-NDC-Attempts-Awaiting-Completion
dc.identifier.doi10.1596/31630
dc.identifier.urihttps://hdl.handle.net/10986/31630
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesSocial Protection and Jobs Discussion Paper,no. 1906;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectPENSION REFORM
dc.subjectPAY-AS-YOU-GO
dc.subjectDEFINED BENEFIT
dc.subjectNOTIONALLY DEFINED CONTRIBUTION
dc.subjectFINANCIAL DEFINED CONTRIBUTION
dc.titleThe Greek Pension Reformsen
dc.title.subtitleCrises and NDC Attempts Awaiting Completionen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleThe Greek Pension Reforms
okr.date.disclosure2019-05-03
okr.doctypePublications & Research
okr.doctypePublications & Research::Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/572351556878896140/The-Greek-Pension-Reforms-Crises-and-NDC-Attempts-Awaiting-Completion
okr.guid572351556878896140
okr.identifier.doi10.1596/31630
okr.identifier.externaldocumentum090224b086c384ce_1_0
okr.identifier.internaldocumentum31029651
okr.identifier.report136547
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/572351556878896140/pdf/The-Greek-Pension-Reforms-Crises-and-NDC-Attempts-Awaiting-Completion.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryGreece
okr.topicSocial Protections and Labor::Labor Markets
okr.topicSocial Protections and Labor::Pensions & Retirement Systems
okr.unitSocial Protection & Labor Global (GSPGL)
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