“…Up to now, however, on this specific point no general agreement emerges. Some authors maintain that this measure should be an essential part of pension reform that would reduce the long-run deficit (Magnani, 2016; American Academy of Actuaries, 2010; Liebman, MacGuineas and Samwick, 2005;Poole, 2004;Cremer, Lozachmeur and Pestieau, 2006;Pestieau, 2004). Others claim that it is a dispensable policy option (Diamond 2005b(Diamond , 2005cDiamond, Orszag, 2004).…”