pension reform

Pension reform involves changes to the rules governing retirement benefits to ensure financial stability for pension systems. This may include raising retirement ages, adjusting contribution rates, or modifying benefit calculations to balance funding needs with fairness. The goal is to make pensions sustainable over the long term, considering aging populations and economic pressures, while providing adequate income for retirees. These reforms aim to prevent pension funds from becoming insolvent and to distribute costs more evenly among workers, employers, and governments, ensuring future retirees can rely on secure, reliable retirement income.