The problem of the sustainability of pension systems is becoming a global problem, affecting both developed and underdeveloped countries as well as countries in transition. Croatia also has not managed to avoid the crisis of its national pension system. After independence, attempts were made to carry out necessary reforms in the pension System, but implementation of the first pension reform was delayed due to the dissolution of Yugoslavia and the Homeland War. Since 1998, three pension system reforms have been implemented: Small, Large and Comprehensive pension reform. While Small and Comprehensive pension reforms have intervened only in the first pension pillar, Large pension reform introduced the second and third pension pillars, which are based on the capitalization of pension contributions. The focus of the paper is on elements of the pension system affected by the reforms and shows how the development of the Croatian pension system has progressed over several reform cycles. This paper provides an overview of key changes that have been included in the pension system and how they were addressed. Although a large number of legal interventions into the pension system pointed out certain deficiencies of previous pension reforms, improvements of the pension system are certainly visible today. The latest in the series, Comprehensive pension reform, has only been implemented at the beginning of this year, and its results are yet to be seen.