SGcHat: Global Talks | Pensions Without Illusions: It's Production, Not Money, That Determines the Wealth of Seniors
In the latest episode of the series #GlobalTalks as part of the SGcHat format, the podcast studio was visited by Prof. Nicholas Barr from the London School of Economics and Prof. Maciej Żukowski from the Poznań University of Economics.
The conversation took place during the 4th NDC Conference at SGH, dedicated to global demographic trends and the future of pension systems. The NDC (Non-financial Defined Contribution) system combines features of a classic public pay-as-you-go system with individual pension accounts and is recognized as a model that adapts to demographic changes.
The experts explained what NDC pensions are and why Poland and Sweden have similar systems yet distinctly different benefits. It is not the financial mechanism but the productivity of the economy that determines the real wealth of seniors. Even the best-constructed pay-as-you-go system will not deliver high pensions if the working-age population produces too little. Professors Barr and Żukowski debunked the myth that "printing" more money changes anything, because the only thing that matters is what is available for distribution.
Spotify: https://open.spotify.com/episode/1WpVwOYcJJF4udMZTllxgK
