This chapter discusses the implications of the COVID-19 pandemic on pension systems. It uses the World Bank’s five-pillar model to discuss these implications. This model advocates for a combination of five sets of mandatory and voluntary schemes that are publicly and/or privately managed to facilitate old-age financing adequacy and security. This chapter also complements the literature with a brief discussion of the formidable operational requirements of the five-pillar model. Experience suggests that the country must carefully examine their preparedness to introduce a particular pillar of the model and if implemented what should be its design. The COVID-19 pandemic has led countries to implement measures, which while alleviating short-term adverse effects on the population may have a detrimental impact not just on pension adequacy but also on debt levels and medium-term growth. The role of leadership at all levels and of social cohesion has gained importance.