The heavily taxed Swedes reportedly are among the world’s happiest people. Their cheerful disposition may arise from knowing the Swedish social security system offers real protections from life’s worst hardships. In contrast, the more gloomy Japanese worry their pay-as-you-go public pension system, never designed for people to live much past 70, is unable to support them in retirement. To end the fear, the government must place comprehensive social security reform at the top of the political agenda.