The Swedish Model for Pension – New Wine in New Bottles

The Swedish parliament´s decision in 1994 on the new pension reform was the first parliamentary decision on what is nowadays called a Non-Financial (or Notional) Defined Contribution (NDC) system. It has since then been at the centre of the international debate on pensions. It has been introduced in several other countries, among these Latvia, Italy and Poland. In this article comments are made on the long and valuable debate in NFT that started at the end of 2002 and which consists of some 20 articles. Among the objections commented are that the aims of NDC could have been achieved without changing to a DC system, that the Swedish pension system will give very low pensions in the future and that the creation of the Automatic Balancing Mechanism will place the whole burden on retired generations.

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