pension reform legislation

Pension reform legislation involves changes to how retirement benefits are provided and managed. It aims to ensure the sustainability of pension systems by adjusting contribution requirements, benefit calculations, eligibility rules, or funding strategies. These reforms can address financial challenges, improve financial security for retirees, or adapt to demographic shifts like aging populations. Essentially, they modify the rules governing pension plans to make them more viable long-term, balancing the needs of retirees, workers, and taxpayers while maintaining fair and stable retirement income systems.