Thanks to recent reforms, projections suggest that public pension expenditure as a share of GDP might be no higher in 2060 than in 2013 for the EU. However, the adequacy of pensions is also important; if reforms leave an increasing number of older citizens without adequate incomes, they will...

The pension systems in both Germany and Austria have undergone substantial reforms, though only one of the countries appears to have had success. Average earners in Austria will receive gross pensions equivalent to 78.1% of their average earnings, whereas in Germany they will receive just 37.5%....