Ageing occurs earlier and is more rapid in Finland than in most other OECD countries. Recognising the urgent need to act, Finland is among the few OECD countries to introduce a comprehensive pension reform to address one of the major fiscal pressures resulting from ageing. This chapter first highlights the major features of the reform and assesses its effects. It then considers it in the broader context of the ageing pressures on long-term public finances. In particular it addresses the question of how ageing and the pension reform should influence the setting of current fiscal objectives.