The final work of the title The European pension system gives insight into the development and types of pension systems, based on the beginning of pension system development, pension system crises, demographic processes, reforms and current development strategies. The aim of the research in this paper is to focus on the development of the pension system through history and to provide a clearer picture and a detailed insight into their development and current state. The purpose of the paper is to identify key developmental facts and differences in the development of retirement systems. Particular attention is paid to the causes of the difficulties, the reforms implemented, the dangers of underrepresented changes and the proposals for improving the situation. The importance of the pension system today, on a worldwide level, is unquestionable. Aging of the population and demographic changes have significantly influenced the changes in the pension system model and many countries around the world reformed their own pension systems, trying to adapt them to current needs.