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

The financial difficulties of the public PAYGO systems over the last 28 years have led to:

• 78 countries increasing the contribution rate (example: Canada, Costa Rica, France, Norway, Portugal, Russia).
• 55 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).

To review the report in detail, please download it here.