Further retirement: You can work for up to 70 years
The social security construction site in Italy is always open. Recent news includes an extension of the state pension age, but on a voluntary basis. Let’s see all the details.
State Pension: Consider a change
This is a first-time change Dominik Matera (Brothers of Italy), which has been submitted to the Senate Constitutional Affairs and Budget Commissions and which provides for an extension of working life on a voluntary basis for civil servants.
In detail, the change affects these Civil servants who have reached the age of 67 but have not completed 36 years of contributions. Under these conditions, according to the amendment, they can voluntarily apply for continued service until they reach the age of seventy. The proposal provides that “it is up to the public administration in which the worker works to accept the application” and that there are no “new or major burdens on public finances”.
Officials: Observatory of Pensions 2022
As for that Public Personnel Management (GDP)the latest INPS Observatory reports data on the benefits applicable on January 1, 2022 and those paid in 2021.
The number of public pensions in force on January 1, 2022 is 3,082,954, an increase of 1.8% compared to the previous year (3,029,451), with a total annual amount (13 months) of 79,203 million euros, an increase of 3, 2% compared to 2021 (76,750 million euros).
As for the cash breakdown, 58.5% of pensions are paid by the State Pension Trattamenti Pensionistic (CTPS), followed by the Municipal Pension Fund (CPDEL) with 38%. The other banks together account for 3.5% of the total. Regarding the total annual amount, 60.9% is paid by the CTPS (2,057.05 euros), 31.9% by the CPDEL (1,655.40 euros) and the remaining 7.3% by the other funds, with the amounts ranging between 1,485 EUR .64 per month for the Teacher Pension Fund (CPI) to EUR 4,728.47 for the Healthcare Pension Fund (CPS).
This is also evident from the INPS observatory 59.5% of total pension benefits are paid to women, versus 40.5% paid to men. In addition, among the pensions paid in 2021, the category of old-age/early pensions is the most numerous, with 54.7% of the total and annual totals of 2,835.2 million euros (62.8% of the total). Survivor’s pensions account for 25.5% in number and 15.7% in amount. Old-age pensions are 16.97% in number and 18.9% in amount, and disability pensions are just over 2% in number and amount.
Regarding the distribution by geographic area of the number of pensions applicable as of January 1, 2022, the largest number of benefits is concentrated in the northern area of the peninsula with 40.8% of the national total, followed by the south area and the islands with 36, 5% and from central Italy with 22.4% of the total.
The combined average age of old-age and seniority/early retirement beneficiaries is 73.4 years for males and females; that of disability pensioners differs by more than 4 years between the two sexes (69.4 for men and 73.7 for women); The mean age of the survivors differs greatly between the two sexes, being 71.6 years for males and 78.1 years for females. Finally, the distribution of pensions by categories and monthly amount classes shows that 15.1% of statutory pensions have a monthly amount of less than 1,000 euros, 45.3% between 1,000 and 1,999.99 euros and 29.6% amounts between 2,000 and 2,999.99 euros; Finally, 10% have an amount of 3,000 euros gross per month and upwards.
Pensions: The discussion table is open to the Ministry
In January, the first meeting of the technical table on pension reform was held at the Ministry of Labor and Social Policy. Together with the Minister of Labor and Social Policy, Marina Calderonethe secretaries of state were present at the meeting with the employers’ and trade union federations Claudius Durigon (work) e.g Federico Freni (Economy and Finance), the Heads of INPS and the Legislative Office of the Ministry of Public Administration. The current framework of pension expenditure was noted in the comparison, also with regard to the evolution of the system, within which the demographic scenarios in Italy and the changes in the organizational models of companies and the economic situation of the current economy must be taken into account.
“The streamlining of pension access systems that we are proposing is in line with a desire to give certainty to those who are concerned about real pension prospects after a long working life,” said Minister Marina Calderone. He added, “We need a clear and stable regulatory framework so that individuals can decide how they want to supplement the checks in a long-term, sustainable manner.”
The next meeting is scheduled for February 8, 2023, with a vertical table dedicated to actions for young people and women. We will then proceed with weekly tables to quickly get to the definition of the reform.