This article analyzes the relationship between the retirement age and demographic and macroeconomic factors within the pension system of Uzbekistan. The purpose of the study is to justify the need for reforming the retirement age and to assess its impact on fiscal sustainability. The study employs statistical and comparative analysis methods, calculation of the demographic dependency ratio, and formulas describing the relationship between insurance service length and the pension payment period. The results indicate that population aging and increasing life expectancy intensify long-term fiscal pressure on the pension system. Imbalances among current parameters may negatively affect system stability. The calculations confirm that a gradual increase in the retirement age, expansion of the minimum employment period, and diversification of insurance contributions strengthen the financial sustainability of the system

This study presents an in-depth analysis of the current state of the Uzbek pension system and the impact of demographic changes and life expectancy on pension liabilities. The size of pension reserves, the present value of liabilities, and financial sustainability indicators were calculated using actuarial models