Harnessing a Young Nation's Demographic Dividends through a Universal NDC Pension Scheme [electronic resource] : A Case Study of Tanzania / Larsson, Bo.
- Other Title:
- World Bank other research.
- Washington, D.C. : The World Bank, 2019.
- Social Protection and Labor Discussion Papers.
World Bank e-Library
Social Protection and Labor Discussion Papers.
- Government document
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- Local subjects:
- Pension Reform. (search)
Pensions and Retirement Systems. (search)
Social Protections and Labor. (search)
- About one-half of Africa's population will remain below age 30 well past 2050,with relatively few aged 60 and older. Using Tanzania's projected demographics and presenteconomic point of departure, this paper demonstrates how the implicit '*double'*demographic dividend can be harnessed to create inclusive growth. A Swedish-style non financial defined contribution (NDC) system is launched where the government can borrow funds from the future through NDC '*consol'* bonds to transform individual savings into human and physical capital to promote inclusive economic growth. The consol bonds constitute a reserve to cover pensions of the retiring '*demographic bubble'* in the future as the dependency ratio gradually glides into demographic equilibrium. Minimum transfers tothe current elderly are also introduced with the phase-in.
- Larsson, Bo.
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