Many countries are faced with major challenges related to population ageing. Pension reform is part of the answer but the need is for broad and comprehensive strategies addressing the broader issue of retirement reform. Based on case studies from seven countries and other available sources the article discusses social security reform initiatives covering public old-age pensions, early retirement, disability pensions and unemployment insurance schemes, sickness insurance schemes, private pensions, tax policies and labour market policies etc.

It is shown that successfully changing actual retirement patterns calls for comprehensive multi-dimensional strategies in order to effectively increase labour market participation among older workers and avoid unintended substitution of early retirement by one form of social security with another. Parallel reforms in the field of private pensions and the tax treatment of pensions may be called for in order to avoid unintended substitution of early retirement facilitated by social security with private arrangements.