5 The net increase in total old age-related expenditure (excluding spending on long-term care, for which no official figures are available) is projected to be 11.5 percentage points of GDP, reaching 32.7% of GDP in 2050.
This compares with rises in pension expenditures by slightly more than 2 percentage points of GDP in both the EU-25 and the EU15 over the same period, reflecting the implementation of important pension reforms in many of these countries  4  5  According to ESA95, defined-contribution funded pension schemes are not considered as part of the general government sector.