demographic developments for all countries. Recent reforms to pension systems have partly offset the impact on spending of an …

, pension outlays are currently relatively low and substantial financial assets have been accumulated in the Government … Petroleum Fund. However, without reforms, due to the maturing of the pension system, ageing will lead to one of the biggest … increases in pension spending as a share of GDP in OECD countries over the next 50 years. This paper thus, after exploring the …

will have on public finances: the cost of the pension system will increase by a third; health care spending and the cost of …

OECD countries to meet these pressures because it has a large, funded occupational pension system in place. This advantage …

the elderly is provided by the social-security pension system and the healthcare system. While the former was reformed … the long run. Projections indicate that even the public pension system may become unsustainable, unless the authorities …