Is another reform of the Fornero reform on the way? After the Jobs act on work, this time the Government seems determined to correct the Turin professor on the subject of pensions. Yesterday evening, from the drawing room of Porta a Porta, Matteo Renzi announced that the aim is to "free from the Fornero law those who accept a small reduction in the social security cheque". The Premier has thus formalized a goal on which Parliament has already been working for some time. In fact, several bills were presented in the Labor Committee of the Chamber to reintroduce flexibility in the legislation on pensions. Now the challenge is to find a compromise that is capable of guaranteeing the tightness of public finances.
Here are the main proposals under discussion:
1) One hypothesis is to allow those who have to retire 62 years of age and at least 35 of contributions, but with a penalty on the amount of the check equal to8 percent. THEhowever, the deduction is progressively reduced to zero for those who choose to retire having reached the age of 66. Finally, the bill presented by the chairman of the Labor commission of the Chamber, Cesare Damiano (Pd), includes a 2% bonus for workers who leave between 66 and 70 years of age. It would cost the state between three and four billion a year.
2) A variant, currently being examined by INPS, provides for a heavier penalty (about 12% of the check) for the part of the pension calculated with the salary: in the event of leaving at 62, the treatment could be reduced by a total of about 20-30%. According to some rumors, this possibility could also be granted to 60-year-olds. To finance it, INPS president Tito Boeri proposes asking for a solidarity contribution from those who retired with the salary system, which is more generous than the contributory one. But this risks running into a new contrary verdict from the Consulta.
3) Another hypothesis foresees 41 years of contributions to retire without any penalty. This proposal is also signed by Damiano, in this case together with the deputies Marialuisa Gnecchi and Pier Paolo Baretta (Pd).
4) From the "share 100” there are two versions: one again by Damiano (62 years of age plus 38 of contributions) and one of the League (58 years of age plus 42 of contributions).
5) A separate chapter concerns the possibility of extending or extending the so-called "Woman option”. Basically, until 31 December 2015, female workers in the public and private sector can choose to retire at 57 years and 3 months of age (58 and 3 months if self-employed) and with at least 35 years of contributions, but with a check calculated entirely with the contribution method (which is based only on contributions actually paid during working life), which can lead to a reduction of up to a third of the amount (according to calculations published today by Il Sole 24 Ore, the greater expense the retributive method entails 46 billion a year for the state coffers). The League requests that the deadline be postponed to 31 December 2018, while Yoram Gutgeld, economic adviser of Palazzo Chigi, would like to extend the Option to men as well.
6) Enrico Giovannini, former Minister of Labor in the Letta government and president of Istat before that, suggested the formula of pension loan. The idea, not enshrined in a bill, envisages guaranteeing those who retire early from work a check for 700 euros in the form of a loan, which will then be repaid by the taxpayer, once the requirements have been met, through a reduction of the social security check. This is "a targeted solution for workers who are very close to leaving - explained the former minister to the newspaper La Stampa - they can stop working, not receiving an early pension, but an advance of 7-800 euros per month for a two or three years on the future pension to which they will be entitled. Which they will repay actuarial later, in installments, before returning to receive the full allowance".
WHAT ARE THE RULES IN FORCE ON PENSION TODAY?
Below is an outline to recap the requirements needed to retire today. We recall that, if the Renzi government does not intervene in the coming months, from 2016 it will take four more months to retire from work, due to the update that adapts the rules to average life expectancy (to date these reviews are every three years, but the Fornero law establishes that from 2019 onwards they become biennial).
Old age pension
Men – In addition to at least 20 years of contributions, from 2016 all male workers, both self-employed and public and private employees, will need 66 years and seven months of age (no longer 66 years and four months).
Women – The same requirements will also apply to women employed in the public sector, while for those working in the private sector the increase will be greater: from next year they will be entitled to an old-age pension at 65 years and seven months and from 2018 to 66 years and seven months (today the bar is at 63 years and nine months). For self-employed women, on the other hand, from 2016 it will be 66 years and one month and from 2018 to 66 years and seven months (from the current 64 years and nine months).
Early retirement
Men – To leave work earlier than the rules valid for the old-age pension, from 2016 42 years and ten months of contributions will be needed (today it takes 42 years and six months).
Women – Female workers will instead need 41 years and ten months of contributions (compared to the 41 years and six months needed today).
