After marriage with Inpdap and Enpals, Inps in 2012 will have a deficit of 8 billion and 869 million euros. This is what we read in an inquiry by Enrico Marro published today in the Corriere della Sera. The reply of Antonio Mastrapasqua, president of the National Insurance Institute, forced to reassure Italian pensioners: “There is no alarm and no problem – he clarified this morning live on Tgcom24 -. Financially there will be money for pensions absolutely".
The Corriere article speaks of "devastating effects on the SuperInps budget". In the adjustment note to INPS's 2012 budget cited by the newspaper, we read that INPDAP will offload 10,2 billion euros of capital deficit and almost 5,8 billion euros of liabilities on the balance sheet. But the note is even optimistic, "because it is formulated on the basis of an estimate of the gross domestic product (that of April) down by 1,2% in 2012 while the latest government forecasts indicate a -2,4%".
Mastrapasqua admitted that “the Inpdap budget is clearly in deficit because in recent years there has been a turnover which has led to an increase in pensioners and a decrease in employees. When the new entity incorporated INPDAP, it is clear that this deficit also occurs in the new INPS for accounting purposes. I say from an accounting point of view because the State has always met the deficit plan by financially advancing the necessary resources. If the Inpdap deficit remains, it will be the State, as employer of civil servants, that will have to restore it".
The president of INPS then added in a note that "the figures concerning the note of balance sheet adjustment (the 5,8 billion of liabilities of the Inpdap management and the 10 billion of patrimonial deficit of the Public Welfare Institute) are already known . And that doesn't change one's full awareness substantial stability of the Institute's accounts and of the Italian social security system. The effects of the reforms of recent years and those of Monti-Fornero, which will be fully produced from next year, have definitively secured the Italian pension accounts".
He also intervened on the matter Elsa Fornero"There is no alarm – said the Minister of Labor -. This is all known data. We have changed the rules, which are now more uniform, so there is no alarm. You don't save on pensions by putting together Inps and Indap or other entities, you save on management and administration costs. We have to act on those. The single body will have to cost less and I believe that it will be”.
