The Italian Public Pension System: Current Prospects and Reform Options
IMF Working Papers, March 1, 1995
Source details
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- The Italian Public Pension System: Current Prospects and Reform Options
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Bibliographic details
- Authors: Patrizia Canziani, Dimitri G Demekas
- Published: March 1, 1995
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451845150.001
Summary and Context
- Publication title: The Italian Public Pension System: Current Prospects and Reform Options
- Authors: Patrizia Canziani, Dimitri G Demekas
- Publication date: March 1, 1995
- Series: Working Paper No. 1995/033
- Pages: 56
- DOI: https://doi.org/10.5089/9781451845150.001
- Stock No: WPIEA0331995
- ISBN: 9781451845150
- ISSN: 1018-5941
- Subject keywords: Aging; Expenditure; Labor; Pension reform; Pension spending; Pensions; Population and demographics; Retirement
- Additional keywords from the source: 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
Key Findings
- Public pension expenditure in Italy has been growing rapidly in the last three decades.
- Italy’s public pension expenditure is now among the highest in industrialized countries.
- Despite recent reforms, benefits remain generous by international standards.
- Without additional measures, the financial situation of the pension system will deteriorate in the long term.
Analysis and Scope of the Paper
- The paper reviews:
- The current Italian public pension system.
- The history of the Italian pension system.
- Prospects for the system going forward.
- The paper examines, through simulations, the long-run effects of alternative pension reform options.
Research Purpose and Limitations Noted
- The working paper describes research in progress by the author(s) and is published to elicit comments and to further debate.
- Disclaimer from the source: 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.
Practical Implications Highlighted
- Rapid growth in pension expenditure and generosity of benefits imply a need for further policy action.
- Long-run simulations are used to assess the fiscal impacts of alternative reform options (details of specific reform scenarios and simulation outcomes are contained in the full paper).
Source: IMF Working Papers — The Italian Public Pension System: Current Prospects and Reform Options (Working Paper No. 1995/033).