Old-age security - Quo vadis?

After a sketch of structural changes relevant for old-age security, basic concepts of old-age security are described aiming at provision for old-age security (intertemporal redistribution) or support in old age (interpersonal redistribution) as well as minimum protection or income-related protection. There is a tendency in many countries for more old-age provision, in redesigning public pension schemes. Economic arguments in favour of a strategy for the German statutory pension scheme based on a concept of old-age provision are pointed out as well as instruments to realize this. Recent proposals for pension reform in Germany are discussed, namely changes of the pension formula for calculating and adjusting pensions and for reducing the pension level as well as linking the retirement age for a full pension to changes in life expectancy. In preparing decisions, an integrated approach is needed taking into account effects of different measures, long-term consequences and consequences for different generations. There are deficiencies in the present-day discussion in Germany and tasks for future research.