Transcription of World Bank Pension Reform Primer Notional accounts
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World Bank Pension Reform Primer Notional accounts
World bank Pension Reform Primer This briefing is part of the World bank s Pension Reform Primer : a comprehensive, up-to-date resource for people designing and implementing Pension reforms around the World . For more information, please contact Social Protection, Human Development Network, World bank , 1818 H Street NW, Washington, 20433; telephone +1 202 458 5267; fax +1 202 614 0471; e-mail All Pension Reform Primer material is available on the internet at Notional accounts Notional defined contribution plans as a Pension Reform strategy otional accounts are designed to mimic a de-fined contribution plan, where the Pension depends on contributions and investment returns. (For this reason, they are sometimes called no-tional, defined-contribution schemes). Pension contributions are tracked in accounts which earn a rate of return. However, in Notional accounts , the return that contributions earn is a Notional one, set by the government, not the product of investment returns in the markets.
2 Notional accounts Some 20 countries around the world have now adopted this schema. The main obstacle to re-forms of this type is the transition cost.
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