Abstract: The key issues addressed in this chapter are how to manage the transition to pension reform in Europe so as to satisfy principles of intergenerational equality and intra-generational justice, while also contributing to the further democratization of retirement among men and women that has already started. The main sections of the chapter are: Managing the transition; The economics of ageing; Redesigning the retirement contract.

Keywords: ageing, elderly, Europe, intergenerational equality, intragenerational justice, pension reform, retirement contracts, welfare state,