ABSTRACT
This chapter gives an overview of the structure of the pension systems in Denmark, Finland, Norway and Sweden, and the most important of the recent changes in these systems. In all the Nordic countries, the public pension component plays an important role. These public pension systems are of pay-as-you-go type, and are in all countries set to encounter financial problems in the not so distant future. Some recent changes aimed at meeting this problem are described, but the chapter includes no discussion of the financial situation of the public pension systems. The emphasis in the chapter is on the institutional arrangements and the ensuing labor supply incentives for older persons. The chapter also includes a brief overview of labor force participation of older persons in the Nordic countries.
