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IEB Report
Fiscal Federalism
The reform of the pension system

IEB Report 3/2013

That demographic ageing can have a negative impact on the long- term financial sustainability of pension systems is far from a new issue in the political and economic forums of debate in developed countries. Since the end of the 1980s, various international organizations (the World Bank, OECD and UN, among others) began to raise the alarm about this problem.They subsequently proposed a series of reforms with the aim of providing greater financial sustainability for the pension systems then under threat from an ageing population. For example, over more than 20 years ago, OECD experts spoke as follows about this problem:

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