Consideratons in pension reforms: A review of the challenges to sustainability and distributve impartality

Abstract

This paper examines the impact of welfare reforms on the sustainability of public pension schemes. The paper reviewed past and current literature and practces of various countries to evaluate the effectveness of reforms used from the aspect of structural and systemic parameters focusing on sustainability and distributive impartality. This review concludes that there are no ideal pension scheme but there are reforms that have shown to be beneficial to the sustainability and distributve impartality of pension systems and such reforms should be applied in combinaton to suit the economic dynamism of each individual country.