Pension systems in European Union

In the European Union, life expectancy increases, fertility declines and baby-boomers retire. The rapid ageing of the population has a strong impact on protection social and public finances. The decline of active population with the decrease of pension contributions, the increase of the number of pensioners affect pay-as-you-go schemes. Reforms of the pension system were absolutely essential and almost all the governments have linked the retirement age with the increases in life expectancy. By raising employment rates and supporting longer working lives many countries could reduce the effects of ageing population on the weight of pensions, but it is necessary to create better opportunities for older women and men to remain in the labour market. This study provides an overview of the different pension systems across EU.