This article explores the involvement of organized social actors (trade unions and business groups) in the reform of public pension systems in Greece and Turkey. Most early studies of the reform of welfare policies perceived benefits in a consensual policy process, but more recent neoliberal literature has been critical of the political involvement of trade unions. On the basis of interviews with actors involved in the reform process in Greece and Turkey, I conclude that the effectiveness of social pacts is contingent on the financial, political and organizational resources available to the actors involved.