Evaluation of the Portuguese pension system

In recent years, Portugal has implemented numerous (temporary and permanent) parametric
pension reforms aimed at reducing public pension expenditures, with little margin for addressing
income adequacy concerns in an already highly aged society. The main policy initiatives were
driven by the short-term need for scal consolidation rather than by a long-term prospect for the
design of pension systems. We propose to evaluate the implications of such reforms in the sustainability of the system and to project the future challenges given a fast change in the portuguese demographic structure.