덴마크의 집합적 확정기여형(CDC) 퇴직연금 제도 고찰 및 함의

The purpose of this study is to examine Denmark's Collective Defined Contribution (CDC) pension scheme, ATP (Arbejdsmarkedets Tillægpension), and subsequently present the implications we can derive. The CDC occupational pension is a hybrid pension scheme designed to address the shortcomings of both DB and DC pensions. Denmark's ATP stands as a prime example of such a CDC occupational pension, operating as a highly successful system. Key lessons can be drawn from Denmark's ATP: First, the core elements of ATP's design are its risk-sharing methodology and fund management strategies aimed at enhancing returns. Furthermore, the operational conditions for a successful CDC occupational pension scheme highlight economies of scale and the critical issue of who manages the scheme. Regarding the future direction of CDC occupational pensions, it is proposed that their role as a retirement income security system should be strengthened. Crucially, shifting towards a Collective Individual DC (CIDC) design, where individuals hold accounts, is suggested as more important than continuing with the existing CDC-type operational framework.