the elderly. This study suggests that these demographic trends may lead to a decline in the G-7 private savings rate after … 2000, compounding the impact of social expenditure pressures on the government’s deficit. Moreover, public pensions may …

-existing mandatory pensions for private sector workers, but they need a stronger supervision and regulation to enhance their benefits …. Rules should seek to promote portfolio diversification, higher portability of pensions and old age income security through …