The new INPS it disburses 21,1 million pensions every month between social security and welfare checks. Approximately 15,9 million citizens benefit from it, for a total expenditure that in 2012 reached 261,3 billion euros, with an increase of 34,4% compared to 194,5 billion in 2011. This was communicated by the institute pension fund in its annual report, underlining that the increase is "mostly attributable to the pension expenditure deriving from the incorporation of the suppressed entities (Inpdap and Enpals), which accounts for 63,3 billion euros on the overall increase, equal to 66,9 billion”.
Also last year, the pension expenditure financed mainly by the contributions paid by workers and employers accounted for 15,08% of the GDP and 15,86% if one also includes the expenditure paid for account of the State, with the exclusion of disbursements relating to carer's allowances in favor of disabled civilians.
The INPS is “an accounting year which, after having accumulated over 25 billion euros of positive balances in the last four years, produces a loss of almost 9 billion euros – explained the president Antonio Mastrapasqua -. A deficit entirely attributable to the management of public workers. And yet an accounting deficit that does not worry the financial stability of the system", which is "in complete safety".
Finally, in 2012, compared to the previous year, there was an increase in old-age pensions (+8,8%) and a "significant drop" in new old-age pensions (-25,1%), also due to the of access requirements with the Fornero reform.
