The demographic changes that are likely to be experienced in the European Union in the coming decades determine governments to find solutions in order to provide the sustainability of social public expenditures. We consider that the main aims of future policies should be creating better job opportunities and working conditions for the growing number of older people in Europe. It is very important to help older people play an active role in society. The literature usually focuses on elements which underline the effects of macroeconomic parameters on the size of public pension expenditure: Samuelson (1958), Cass and Yaari (1966), Blanchard (1985), and Gertler (1999). However demographic effects, notably fertility rate and old-age dependency ratio, are also key elemets which affect the sustainability of social security expenditures according to Miroslav Verbic and Rok Spruk (2011). Our econometric testing confirms the high relevance of old age dependency ratio and of the fertility rate upon public pension expenditures, both demographic variables proving to influence the size of public pension expenditure. Considering these results we propose some measures which governments should include in future public policies. Retirement should happen at an older age but only if appropriate jobs are available for older generations. The key to tackling the challenges of an increasing proportion of older people in our societies is “active ageing”: encouraging older people to remain active by working longer and retiring later, by engaging in volunteer work after retirement, and by leading healthy and autonomous lives.’ Active ageing is defined by the World Health Organisation (WHO) as ‘the process of optimizing opportunities for health, participation and security in order to enhance quality of life as people age’. The definition therefore includes the notion of extending the activity of older persons, both within the labour force, through delaying their retirement but also within society, through participation in a range of social, economic, civic or cultural activities. Employment policy also seeks to improve human capital through better education and skills. As such, efficient lifelong learning strategies including workplace training may enhance the prospects of older workers to remain in the workforce. The EU’s employment strategy seeks to establish a lifecycle approach, putting in place conditions that allow people to prolong their working lives, such that employment rates for older workers and average exit ages are raised.