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Pensions, Quota 100 also loses appeal due to Covid

The INPS surveys on 2019 and on the first nine months of 2020 confirm that, after last year's peak, early pensions linked to Quota 100 decrease, also due to the effect of smart working induced by the pandemic

Pensions, Quota 100 also loses appeal due to Covid

With the usual punctuality, the Inps Actuarial Coordination published the monitoring data pension flows (i.e. pensions starting in the period considered) throughout 2019 and in the first nine months of 2020, limited to the private employee, self-employed and semi-subordinated sectors. It would be curious to understand why, despite the related management being incorporated into INPS, there is no timely reporting of the treatments provided to public employees. The survey is on 2 October. From the analysis of the statistical indicators it is observed that the weight of early pensions on old-age pensions, which had seen a significant increase in 2019 compared to the previous year both due to the increase in the legal age and the introduction of the "quota 100", confirms a downward trend in the first nine months of 2020.

The percentage of pensions paid to female workers increases compared to the annual figure for 2019; at the territorial level, the percentage weight (52% in the first nine months of 2020) of the treatments provided in the North is confirmed.

These statistical indicators clearly highlight the relationships between the different types of pensions. The number of old-age pensions is assumed to be 100 as a base and the other treatments (seniority/anticipated, invalidity) are parameterized to the same base. The already anticipated trends clearly emerge, with qualitative differences even if the comparison takes place between the data of an entire year, 2019, and the first nine months of the current year. However, it is unlikely that the retirements that will take place in the fourth quarter could alter a picture of significant changes. It's noticeable right away a clear reduction of the pensionable invalidity (in the Fpld from 90 out of 100 to 36 out of 100). Also with regard to the treatment of seniority – the key institution of all reforms (and counter-reforms) – scaling is evident. The FPLD goes from an indicator of 336 out of 100 to 174 out of 100. The explanation for the peak in 2019 and the decline in the first nine months of this year is, to a large extent, linked to the accession of subjects entitled to leave the work through share 100. In essence, if there has been a strong demand immediately after the entry into force of the rule referred to in decree n.4 of 2019, the interest has gradually diminished as is also demonstrated by the decreasing flows of applications during 2019.

Moreover, this consideration is confirmed by INPS itself. In the XIX Annual Report 2019 there are assessments that also concern 2020. And with regard to the 100 quota, the document claims that, "considering the applications received, net of the rejected ones, in 2020 from January to August it is underlined that the epidemiological crisis at the beginning of the year did not highlight a choice by older workers to anticipate leaving the world of work; in fact, in these months of crisis there have been no substantial changes in the trend of applications for Quota 100 pensions. After the first months of 2019 in which there was a stronger demand than these, due to the presence of various generations of individuals who accrued requirements, the applications can be considered stable and also for 2020 the partial use of those entitled is confirmed as happened in 2019. Such a choice, which – the Report maliciously observes – does not reflect the expectations of the policy maker or of those political forces that have demanded the law, could be dictated by the working conditions in smart working, especially in the public administration, and from the use of layoffs in the private sector. In fact, in this situation the workers seem to consider - according to INPS - their permanence in the world of work more appropriate and convenient, so that you can get a future pension with a higher amount".

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