This document compiles the main parametric reforms (approved or under discussion), both in the new reformed pension systems with public PAYGO programs and the unreformed public PAYGO programs.

This edition of the publication count reforms between 1995 and December 2015. The study finds out that within a span of 20 years, from 1995 to December 2015, in order to reduce fiscal costs:

• 74 countries increased the contribution rate in their PAYGO programs (example: France, Norway, Russia, Portugal).
• 50 increased the retirement age (example: Germany, Spain, South Korea, France, Greece).
• 63 adjusted the benefits formula or reduced the benefits plan (example: Brazil, Belgium, Italy, Netherlands, United Kingdom).

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