Conclusion

This chapter returns to the aims, objectives and attributes of pension systems outlined in Chapter 1 and discussed throughout this book. It considers the financial challenges of pension systems, usually considered in the context of sustainability, and then examines the social policy dimensions of pension system debates, often considered in the context of adequacy. Thereafter issues of fairness, risk and security are analysed. As well as setting out the current challenges these issues pose for pension systems, this discussion also illustrates the ubiquitous nature of the notion of ‘sustainability’. The chapter therefore concludes by returning to the idea of sustainability and argues that a more complex and nuanced understanding of sustainability is required for effective pension reform in the context of the current economic, social and climate changes facing the global population.