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Current Features and Future Problems of the Italian Pension System

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  • Scopelliti, Alessandro Diego

Abstract

The paper analyzes the issue of the financial sustainability of the Italian Pension System in the long-run, by discussing the main reforms occurred in the last few years and by examining some recent data: in particular, the data of the Italian Agency for the Evaluation of Social Security Expenditure on the budget of specific funds of the Social Security System, like the Fund for Private Employees and the Funds for Public Employees, and moreover the OECD data on the evolution of the replacement rate between pension benefit and labour income. Observing the evolution over the period 1989-2006, we notice that the current deficit of the first pillar of the pension system is caused, much more than in the past, by the deficit of the Funds for Public Employees, for the relevant difference between the value of the benefits and of the contributions, which is not registered in the other funds.

Suggested Citation

  • Scopelliti, Alessandro Diego, 2009. "Current Features and Future Problems of the Italian Pension System," MPRA Paper 20077, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:20077
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    File URL: https://mpra.ub.uni-muenchen.de/20077/1/MPRA_paper_20077.pdf
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    References listed on IDEAS

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    1. Marcello D’Amato & Vincenzo Galasso, 2002. "Assessing the Political Sustainability of Parametric Social Security Reforms: the Case of Italy," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 61(2), pages 171-213, December.
    2. Queisser, Monika & Whitehouse, Edward, 2005. "Pensions at a glance: public policies across OECD countries," MPRA Paper 10907, University Library of Munich, Germany.
    3. Mr. A. J Hamann, 1997. "The Reform of the Pension System in Italy," IMF Working Papers 1997/018, International Monetary Fund.
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    Cited by:

    1. Christine Mayrhuber & Gerhard Rünstler & Thomas Url & Werner Eichhorst & Michael J. Kendzia & Maarten Gerard & Connie Nielsen, 2011. "Pension Systems in the EU. Contingent Liabilities and Assets in the Public and Private Sector," WIFO Studies, WIFO, number 43938, March.

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    More about this item

    Keywords

    pay-as-you-go system ; retirement age ; defined contribution ; financial sustainability ; replacement rate ; private pension funds;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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