Crises in public pension programmes in OECD: What are the reform options?

The paper examines projections of the fiscal liabilities of public pension programmes in a number of OECD countries. It investigates the reasons why m any countries have built up such liabilities in the past and critically app raises the future projections of pension costs. It examines the strengths a nd weaknesses of four reform options which are currently being discussed an d implemented in various countries.