Countries in Central, Eastern and South-Eastern Europe (CESE) face the challenge of becoming "demographically old before being economically rich". Ensuring the long-term stability and adequacy of pension systems was one of the most important tasks that these countries faced following economic...

Against the background of population ageing pension debate has focussed for many years on the future increase of the so-called old-age dependency ratio, i.e. the number of older people against the number of people of working age. Incomprehensibly, this ratio is often misinterpreted as the ratio...