ABSTRACT
As we all know, pension systems involve systems that are both cross-disciplinary and span long periods of time. Many economists who are not actually engaged in this particularly field might therefore put out an opinion or two, but one opinion generally contributes little to the whole subject. It might seem reasonable from one perspective but then is not workable in terms of other reforms or creates unintended consequences. Creating a pension system is therefore an extremely complex and difficult task. It requires years of exploration and a certain amount of going “back and forth.” Right now, all systems practiced in all countries have their problems and most countries are therefore either in the process of or are considering their own reforms.
