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Parametric Reforms in the Public PAYGO Pensions Programs 1995 – 2018 – February 2019

14 March, 2019

This document compiles the main parametric reforms (approved or under discussion) introduced between 1995 and 2013 in the new reformed pension systems in which public PAYGO programs still exist, and the unreformed public PAYGO programs.

The financial difficulties of the public PAYGO systems over the last 23 years have led to:

  • 78 countries increasing the contribution rate (example: Canada, Costa Rica, France, Norway, Portugal, Russia).
  • 57 increasing the retirement age (example: Germany, Italy, Netherlands, United Kingdom).
  • 61 adjusting the benefits formula or reducing benefit levels (example: Argentina, Belgium, Brazil, Denmark, Italy, Japan).

Download the complete document and its exhibits here.

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