ransformation Phenomenon? Hans-JOrgen Wagener. 13 The Transformation of Social Security in Central and Eastern Europe Krzysztof Hagemejer. 31 II. Issues and Role Models in the Pension Reform Debate The Controversy Between the Pay-As-You-Go System and the Fully-Funded System in Old-Age Security Hermann Ribhegge. 61 The Political Feasibility of Pension Reform in the Light of Demographic Change Friedrich Breyer and Klaus Stolte.