An individual's life is filled with various important milestones, from going to the kindergarten and school, to going to university, employment, and even retirement. When retiring, each individual adapts differently to the new pace of life and organization. Therefore, the pension system is defined as an important part of the social security system, which is widely accepted today, both in the world and in Croatia. Considering the ever - increasing rates of aging population, the sustainability of the pension system is a problem faced by current generations, but one that significantly affects future generations as well. The pension system of the Republic of Croatia has a long history, and currently consists of three pension pillars. The first pillar is based on intergenerational solidarity and is mandatory. The second pension pillar is also mandatory, but based on individual capitalized savings, while the third pension pillar is voluntary pension insurance based on individual capitalized savings. Comparing the Croatian with the Dutch pension system, which is among the best systems in the world, we conclude that the Croatian pension system is up-to-date with changes and challenges and successfully responds to them.