Abstract
The paper presents the results of a study that sheds light on the pension system and its dilemmas in Slovenia in light of current international macroeconomic changes and trends. We found that Slovenia has a pension system similar to that of other comparable economies (with the exception of the second pillar) and that it currently faces similar dilemmas as other economies that are resulting in inevitable reforms of the pension system. On the basis of international comparison and current demographic trends in Slovenia we proposed some policy recommendations for future reforms of the pension system in Slovenia.