There has been much discussion in the British general and specialised media over the last year on the adverse consequences of the economic and financial crisis on the British pension system. It should come as no surprise that the crisis has also adversely affected pension systems in most other...

This paper focuses on an issue, which so far has received relatively little attention by policy makers and the media, namely that the economic crisis has highlighted inherent weaknesses in existing pension systems in many countries.Using the example of the UK, the paper argues that the economic...