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Setting Up a Communication Package for the Italian NDC

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  • Boeri,Tito
  • Cozzolino,Maria
  • Di Porto,Edoardo

Abstract

In the last 30 years the Italian pension system was repeatedly reformed and counter-reformed, increasing uncertainty about future pensions. A low level of financial literacy exacerbated this problem. In 2015, the Italian Social Security Institute (INPS) launched a project to allow all insured workers to have more precise information about their future benefits. This paper analyzes the results of a survey carried out to evaluate the project?s performance. The findings are encouraging ? around 80 percent of respondents rate the INPS service as at least ?very helpful.? Even if 42 percent of the sample overestimates their future pension, 16 to 29 percent reveal a willingness to change their expectation on retirement income after receiving new information.

Suggested Citation

  • Boeri,Tito & Cozzolino,Maria & Di Porto,Edoardo, 2019. "Setting Up a Communication Package for the Italian NDC," Social Protection Discussion Papers and Notes 136554, The World Bank.
    • Handle: RePEc:wbk:hdnspu:136554
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    References listed on IDEAS

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    1. Tullio Jappelli & Immacolata Marino & Mario Padula, 2014. "Households' Saving and Debt in Italy," Politica economica, Società editrice il Mulino, issue 2-3, pages 175-202.
    2. Bottazzi, Renata & Jappelli, Tullio & Padula, Mario, 2006. "Retirement expectations, pension reforms, and their impact on private wealth accumulation," Journal of Public Economics, Elsevier, vol. 90(12), pages 2187-2212, December.
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    2. Tang Hang Wu, 2022. "Charitable Organizations in Singapore: From Clan Based to State Facilitated Endeavors," Nonprofit Policy Forum, De Gruyter, vol. 13(1), pages 49-68, January.
    3. Mohd Azam, Siti Balqis & Abu Bakar, Siti Hajar & Mohd Yusoff, Jal Zabdi & Abdul Rauf, Siti Hajar, 2021. "A case study on academic and vocational training for child offenders undergoing a multisystemic therapy-based rehabilitation order in Malaysia," Children and Youth Services Review, Elsevier, vol. 122(C).
    4. Barr, Nicholas, 2019. "Gender and family: conceptual overview," LSE Research Online Documents on Economics 101237, London School of Economics and Political Science, LSE Library.
    5. Daniele Franco & Pietro Tommasino, 2020. "Lessons From Italy: A Good Pension System Needs an Effective Broader Social Policy Framework," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(2), pages 73-81, March.

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    More about this item

    Keywords

    Pensions&Retirement Systems; Financial Literacy; Educational Sciences; Social Protections&Assistance; Labor Markets;
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