The Italian Public Pension System: Current Prospects and Reform Options

March 1, 1995

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Public pension expenditure in Italy has been growing rapidly in the last three decades and is now among the highest in industrialized countries. Despite recent reforms, benefits remain generous by international standards and, unless additional measures are taken, the financial situation of the system will deteriorate in the long term. The paper reviews the current system, its history, and its prospects, and examines through simulations the long-run effects of alternative pension reform options.

Subject: Aging, Expenditure, Labor, Pension reform, Pension spending, Pensions, Population and demographics, Retirement

Keywords: Aging, early retirement, Europe, INPS pension, invalidity pension, IVS pension, pension outlay, pension provider, Pension reform, Pension spending, pension system, Pensions, Retirement, seniority pension, support pension, WP

Pages:
56
Volume:
1995
DOI:
https://doi.org/10.5089/9781451845150.001
Issue:
033
Series:
Working Paper No. 1995/033
Stock No:
WPIEA0331995
ISBN:
9781451845150
ISSN:
1018-5941

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