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Italy: A fundamental transformation of the pension system

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  • Emmanuel Reynaud
  • Adelheid Hege

Abstract

Italy completely transformed its pension system in 1995. The reform undertaken is of unequalled magnitude in industrialized countries. The main innovations introduced comprise the creation of a single scheme covering all employees, as well as the self‐employed; the adoption of a new method of calculation linking the pension amount to contributions; and the introduction of a flexible retirement age. In addition, measures have been foreseen to encourage the development of funded supplementary pension provision. This reform, which will transform the Italian pensions scene, is mainly the result of an agreement signed between the government and the confederations of trade unions.

Suggested Citation

  • Emmanuel Reynaud & Adelheid Hege, 1996. "Italy: A fundamental transformation of the pension system," International Social Security Review, John Wiley & Sons, vol. 49(3), pages 65-74, July.
    • Handle: RePEc:wly:intssr:v:49:y:1996:i:3:p:65-74
    DOI: 10.1111/j.1468-246X.1996.tb01110.x
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