Latvia introduced a nonfinancial defined contribution (NDC) scheme in 1996 as it transitioned to a market economy. Despite a 20 percent decline in the working-age population from 1994–2016, the ratio of contributors to old-age pensioners rose from 1.6 to 2.1 given a steady increase in formal labor force participation and 5-6 percent real per capita wage growth. Projections show that long-term financial balance will be maintained through 2070, despite...
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INFORMATION
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2019/04/01
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Document de travail (série numérotée)
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136546
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1
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1
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2019/05/03
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Disclosed
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The Latvian NDC Scheme : Success Under a Decreasing Labor Force
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contribution rate