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Protecting citizens against social risk is one of the most important tasks of a democraticstate. In Poland, it is implemented through the social security system, an important element of which is the pension system. The purpose of the article is to analyze the factors that determine the functioning and change of the pension system. The considerations concern the demographic, social, economic and political situation. The research problem is the circumstances that determine the need for reform of the Polish old age risk protection system. The following research hypothesis was formulated: functioning and change of the pension system are conditioned by many circumstances, but the most important thing is the demographic situation. Its verification requires the use of the document examination method as well as the method of analysis and criticism of the literature. The considerations undertaken in the article allowed to state that the pension system is subject to frequent changes aimed at adapting it to new conditions. In the author's opinion, the demographic situation is the most important factor affecting the pension system, which may in the future pose an increasing challenge to its long-term stability.
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