The Reform of the Pension System in Italy

Author/Editor:

A. J Hamann

Publication Date:

February 1, 1997

Electronic Access:

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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:

Italy’s pension system was reformed in August 1995. The new system has various desirable long-run properties and, overall, it represents an improvement over earlier systems. However, it fails to address two longstanding problems: extremely high contribution rates, and a lack of provisions for dealing with the substantial deterioration in demographic ratios expected over the next 30-40 years.

Series:

Working Paper No. 1997/018

Subject:

Aging Demographic change Expenditure Labor Pension spending Pensions Population and demographics Retirement

English

Publication Date:

February 1, 1997

ISBN/ISSN:

9781451922790/1018-5941

Stock No:

WPIEA0181997

Pages:

34

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