Social security systems worldwide must adapt to demographic shifts, economic cycles and evolving fiscal policies, among other issues. Many countries with growing numbers of older people are looking to gradually increase retirement ages and extend working lives. Government pension commitments also pose a challenge to fiscal sustainability, particularly when public expenditures on old-age pensions must be balanced against governmental responsibilities of providing healthcare, education and employment promotion, which are essential to the development of future generations. A core challenge is to provide a strong environment and effective tools that allow individuals to contribute to a pension system and to save for their own retirement beyond the minimum guaranteed by a social protection floor..