finance targets, thereby clarifying the connection between pension reforms and general government budget balance and debt …

The paper examines pension reforms under ageing. With stylised facts, ageing is traced to low fertility and increasing … longevity. Given these persistent factors, pension systems must be reformed to avoid an unfair burden being left for future … accompanied by a second pillar, managed by the private sector.An effective retirement age increase is necessary to moderate the …

-related expenditure carried out in 2005. It takes a closer look at the results of public pension expenditure projections with a view of … analysing the timing of projected changes and the driving factors behind pension expenditure increases, as well as the …-depth understanding on the evolution of projected public pension expenditure and thereby contributing to the debate on the assessment of …

of the EU Economic Policy Committee's Ageing Working Group by projecting public expenditure on pensions, health care …

's Economic Policy Committee, in its Ageing Working Group, to project the public expenditure implications of ageing on pensions …

increasing longevity are leading to increasing pension liabilities. Actuarial neutrality across generations is presented as a … benchmark for designing pension reforms to meet the challenges of population ageing. It is shown that this condition can be … respected by a wide range of pension reforms, with very different consequences for public finance target setting. The rules for …