Article at a glance:

Can pension plans age gracefully?

Aging populations have put pension reform on the economic agenda in many countries. Adair Turner, vice chairman of Merrill Lynch's European operations, has spent the past two years considering reform options in his role as head of the UK Pensions Commission. In this interview, he describes the impact of aging on pension systems, the trade-offs of pension reform, the important levers policy makers can pull to address the solvency of their systems, and the role of private accounts.

The take-away

It will be difficult for any pension reform plan to address the economic impact of a rapidly aging society without raising the age of retirement and boosting savings.