The paper discusses similarities and differences between NDC and the French and German point systems. The study focuses on how these systems differ when there is an external shock (demographic, economic, or other) and discusses the possible consequences of moving from the point system to NDC....

In France, the distributive pensions’ reform, driven since twenty years, has led to a diminution of the pensions’ generosity. In parallel, the tax allowances have increased to promote the development of long-term savings, supposed to “complete” the distributive pensions. The...

This paper assesses the impact on growth and the inter-generational redistributive effects of some possible pension reforms in France using a dynamic general equilibrium model with overlapping generations. Results suggest that a reform increasing the effective average retirement age by 1.25...