China is undergoing a particularly fast demographic transition. Accelerated through decades of political restrictions on family planning, the median age is rising and there is a growing share of retirees, while labour force potential is declining. Faced with dire consequences for both economic...

For decades, pension systems were based on the rising revenue generated by an expanding population (demographic dividend). As changes in fertility and longevity created new population structures, however, the dividend disappeared, but pension systems failed to adapt. They are kept solvent by...

The Croatian system of old-age provision comprises a traditional public pay-as-you-go scheme and a mandatory funded scheme ("second pillar") that will provide increasing amounts of supplementary pensions to those entering retirement in the future. Due to the continuing economic crisis, the...