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FIAP > Boletín – Recientes > Parametric Reforms in the Public PAYGO Pension Programs: 1995 – December 2017 – January 2018
8 March, 2018

Parametric Reforms in the Public PAYGO Pension Programs: 1995 – December 2017 – January 2018

This document compiles the main parametric reforms (approved or under discussion) introduced between 1995 and December 2017 in the new reformed pension systems that still have public PAYGO programs, and the unreformed public PAYGO systems.

The financial difficulties of the public PAYGO systems have led to the following situations over a period of 21 years:

  • 76 countries increased the contribution rate (examples: Costa Rica, France, Norway, Portugal, Russia).
  • 55 increased the retirement age (examples: Germany, Italy, the Netherlands, the United Kingdom).
  • 60 adjusted the benefits formula, or reduced benefits outright (examples: Argentina, Belgium, Brazil, Italy, Japan, the Netherlands, the United Kingdom, Vietnam).
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