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PAYGO |
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Take the example of PAYGO rules in the United States in the 1990s. Some CEE countries have set up notional defined contribution (NDC) schemes for the PAYGO tier in which each insured person has a hypothetical account made up of all contributions during his or her working life. In addition to the PAYGO amount, an additional $1 billion will be deposited into the trust fund in fiscal 2007. |
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