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N° 283 |
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| November 2008 |
| Pensions in Italy: Work in Progress |
| Riccardo Magnani |
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| Work on pensions has been in progress in Italy since 1992. The Italian pension system, essentially a public Pay-As-You-Go
pension system, must face up to a particularly marked ageing of the population. The Dini reform introduced a notional
defined contribution system; the Berlusconi, then Prodi reforms pushed back the minimum retirement age. We present a
general equilibrium analysis of the macroeconomic impact of the last two reforms and their effect on the viability of the
pension system. Our simulations show that their effectiveness will only be temporary and important political decisions
are still to be made. |
Abstract |
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