The 2012 edition of Pensions Outlook examined pension reforms from September 2007 to February 2012. During that period, in the aftermath of a major economic crisis, the main policy initiatives included increasing both the financial sustainability of public pensions and the security of private pensions. This chapter sets out the main pension reforms in the 34 OECD countries between February 2012 and September 2014. More than five years after the onset of the crisis, the world economy is still weak. Countries are accelerating the pace of pension reforms in order to stabilise both unsustainable government debt and public pension expenditure while addressing adequacy concerns in ageing societies.