This system is called notional (or non-financial) defined contribution (NDC) and was implemented in countries including Italy, Latvia, Poland and Sweden. The NDC system is similar to individual accounts in that the benefits reflect lifetime contributions and consider the number of years during which workers are expected to collect benefits (life expectancy on retirement). However, unlike individual accounts, NDC systems are publicly administered and involve no financial accumulation. Instead, revenues from workers’ contributions continue to be directed to pay for benefits in a PAYG model.