Abstract
Reforming old-age provision is one of the most pressing economic and socio-political challenges. Demographic change, fiscal burdens, and changing employment biographies are increasing the pressure for reform. Acceptance, distributional effects, and institutional stability must be carefully weighed in all reform considerations. The contributions to this Zeitgespräch examine key aspects of pension policy from different perspectives: from international comparisons and governance issues relating to capital cover and the role of longer working lives to normative principles such as participation equivalence from the citizen’s point of view. Together, the articles show how balanced reforms can help to stabilise the pension system in a sustainable and socially acceptable manner.