This paper gives an account of the main aims and principles of the reform measures which came into force in 1999. Its primary objective is to present estimations of the effects of these measures on the composition of the pension system, over the next 50 years, in terms of institutions,...

Pension systems and pension expenditures show large variations among countries worldwide. This variation appears to reflect mainly demographic factors and differences in the level of insurance protection, the latter tending to increase with the level of development. The focus of this paper is...