Ageing Societies and the Looming Pension Crisis
[Organisation for Economic Co-operation and Development] Nearly all OECD countries face the need to reform their pensions system. Some have already taken steps, while others are getting ready to. Reforms are necessary to ensure the sustainability of pay-as-you-go schemes. But this is only one part of the equation. Pension reform needs to go hand in hand with changes in the behaviour and attitudes of all actors involved to promote a longer working life. ... In sum, the issues of demography and older workers go well beyond the reform of pension systems. They are a matter of social equity, not only between workers and pensioners, but also between generations. Without reform, and without a change in attitude, it will be our children and grandchildren who will pay the price.