The purpose of this dissertation is to develop a computational framework to identify a set of
parametric reform options to rehabilitate publicly run, pay-as-you-go-based pension systems
under alternative strategies for reform involving once-and-for-all as well as gradual changes
in pension parameters. The techniques developed are applied to the Turkish pension
system, which is particularly interesting as it already faces a severe financial crisis despite a
relatively young population. The results confirm the need for urgent reform.