Population ageing represents one of the most significant long-term challenges for the sustainability of pension systems in the European Union. This thesis analyses the impact of demographic changes on pension systems and compares the institutional characteristics and reform approaches in Slovenia, Germany and Sweden, with particular focus on the role of older workers’ employment, retirement rules and automatic stabilisation mechanisms in securing long-term financial sustainability and pension adequacy.
The methodological approach combines comparative analysis, descriptive statistics and an exploratory comparison of selected indicators, based on secondary data from Eurostat, OECD and the European Commission covering the period up to 2025 and long-term projections from the 2024 Ageing Report up to 2070. As only three countries are included, the study is exploratory and does not allow statistical generalisation.
Findings suggest that all three countries face increasing old-age dependency ratios, while Slovenia has a significantly lower employment rate for workers aged 55-64 (57.6%) compared to Germany (75.3%) and Sweden (78.3%). Automatic stabilisation mechanisms, as incorporated in Sweden’s NDC system, may contribute to greater institutional resilience. Reform measures improve long-term sustainability but frequently create tension between financial stability and pension adequacy.
The findings suggest that Slovenia requires a combination of measures: extending working lives, improving employability of older workers, gradually introducing automatic adjustment mechanisms and strengthening supplementary pension savings. The results are relevant for pension policymakers and may contribute to the comparative analysis of European pension systems.
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