According to the latest version of the report on “Parametric Reforms in the Public PAYGO Pension Programs”, over a period of 26 years, between 1995 and December 2021, to reduce fiscal costs:

• 80 countries increased the contribution rate in their PAYGO programs (example: Croatia, Egypt, Netherlands, Norway)
• 62 increased the retirement age (example: Egypt, Netherlands, United Kingdom)
• 62 adjusted the benefits formula or reduced the benefits plan (example: Argentina, Brazil, Egypt, Italy)

If you want to review this report in detail, please download it here.