Population aging is expected to affect the performance of financial markets in developed and emerging economies at a time when ever more countries are relying on funded provisions for old age income support. This study investigates the challenges faced by these former transition countries in the context of international experience from the OECD and Latin America. The overarching conclusion of this study is that these challenges can be addressed but addressing them will require determined policy actions to complete financial market development and to promote financial literacy through education.