The 2024 Budget Law has introduced or modified relevant provisions also regarding pensions. Let's see what's new in detail.
Old age pension 2024
Workers whose first contribution credit is after January 1, 1996, they will be able to access the old-age pension, in the presence of the age requirements established by the legislation currently in force today 67 years old, and payments minimum contributions of no less than 20 years, provided that the gross monthly pension is at least equal to the amount ofsocial allowance (rather than equal to 1,5 times said amount as before).
Contributory early pension 2024
Workers whose first contribution credit is after 1 January 1996 will now be able to access the early retirement, currently at 64 years of age and with 20 years of contribution effective, provided that the monthly amount of the pension is not lower than a minimum monthly threshold no longer equal for all to 2,8 times the social allowance, but is equal to:
- 3 times the social allowance,
- 2,8 times for women with 1 child,
- 2,6 times for women with 2 or more children.
Furthermore, always for the workers concerned, early retirement:
- must not exceed 5 times the minimum treatment provided for by current legislation, until reaching the old age pension (currently 67 years)
- starts from the "window" that opens next three months from the date of achievement of the required requirements.
Furthermore, the requirement of 20 years of effective contribution for the recognition of the contributory early pension is also linked to the adjustments in life expectancy.
Pension 2024: Social Ape
As is known, the Social Ape is an allowance, guaranteed by the State and paid by the INPS, to workers in certain contributory conditions and in difficulty, who are not already in receipt of a pension in Italy or abroad.
This measure was introduced by the 2017 Stability Law and then extended from year to year until the recent Budget Law, for which the measure remains in force through 2024 for those who meet the requirements during the year, but with the increase to 63 years and 5 months (from 63 years) of the minimum age to access it.
The allowance is paid until the age required for the old-age pension or the requirements for early retirement are reached.
It is also established that the Social Ape cannot be cumulated with income from employment or self-employment, with the exception of income from occasional self-employment within the limit of 5000 euros gross per year.
Pension 2024: Woman option
The pension advance is extended for 2024woman option”, but with the increase from 60 to 61 years of the requirement to access it, possibly reduced up to a maximum of two years.
Pension at “quota 103” in 2024
The possibility of early retirement with the so-called has also been extended for the current year “altitude 103”, i.e. at least 62 years old and with 41 years of contributory contributions.
Furthermore, the following changes have been made:
- the pension amount is calculated exclusively with the contributory system
- the pension paid cannot exceed 4 times the minimum treatment provided for by legislation, up to the old-age pension
- the “window” for the effective date of the pension goes from 3 to 7 months for workers in the private sector and from 6 to 9 months for the public sector.
Consistently, it is also extended the incentive to remain in service, despite having fulfilled the requirements for "quota 103", donating the net social security contributions payable directly to the worker on his paycheck.
Early retirement of printing workers
The spending authorization for early retirement, with at least 35 years of contributions, has increasedpolygraphic workers of newspaper and periodical printing companies, in response to reorganization and/or restructuring plans, following a corporate crisis, presented by the companies to the Ministry of Labor by 31 December 2023.
Adjustment of contribution requirements to life expectancy
La cessation of blocking of the adjustment mechanism the life expectancy of the contribution requirement for access to early retirement, currently equal to 41 years and 10 months for women and 42 years and 10 months for men, has been brought forward from 31 December 2026, as previously foreseen, al 31 2024 December.
Furthermore, as established by the decree of the Ministry of Economy, published on 17 October in the Official Gazette. n.243, the pension requirements subject to this adjustment are expected to remain unchanged for the two-year period 2025-2026.
Until 2026, you will therefore continue to obtain the right to an old-age pension 67 years old, the other requirements for access to pensions linked to changes in life expectancy also remain unchanged.
Redemption of periods not covered by contributions
Employees, self-employed or registered with the INPS separate management, with the first contribution credit only after 1 January 1996 and not already retired, can redeem, even partially, in a single solution or up to 120 installments monthly, of the periods, not covered by contributions, prior to January 1, 2024, between the first contribution payment and the last credited payment, which however have not been subject to a contribution obligation and which are not already covered by contributions to other forms of compulsory social security.
Uncovered periods of contributions will be treated as periods of work and can be redeemed for a maximum of 5 years, even if not continuously.
The acquisition of contributory seniority for periods prior to 1 January 1996 will result in the automatic cancellation of the redemption and the restitution of the contributions already paid.
For the private sector workers, the employer can assume the burden of the redemption, allocating for this purpose the production bonuses due to the worker himself, with total deduction of the amount from the business or self-employment income.
Automatic revaluation of pensions
For 2024 the pension revaluation rates, based on the inflation rate of the previous year, have been determined as follows:
- 100 percent for pensions equal to or less than 4 times the minimum salary
- 85 percent for those greater than 4 times and up to 5 times the minimum treatment
- 53 percent for those greater than 5 times and up to 6 times the minimum treatment
- 47 percent for those greater than 6 times and up to 8 times the minimum treatment
- 37 percent for those greater than 8 times and up to 10 times the minimum treatment
- 22 percent (instead of the 32 percent of the 2023 budget law!) for pensions overall exceeding 10 times the minimum payment.
