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Pension reform: all postponed (at least) to 2016

From Palazzo Chigi they explain that there is a lack of coverage – Renzi had anticipated the decision in Cernobbio, during a closed-door meeting with the entrepreneurs – The rules of the 2011 Fornero law therefore remain in force: here is a scheme.

Pension reform: all postponed (at least) to 2016

"There are no covers." So from Palazzo Chigi they explain the postponement of new pension reform, initially expected with the 2016 Stability law. The intervention on social security – the first objective of which was to amend the Fornero law by introducing greater flexibility in terms of exit – slipped at least to next year

“We should open negotiations with the Commission in Brussels – the Presidency of the Council still explains, according to what La Repubblica writes -, but we will do that to obtain more flexibility on the parameters linked to investments, not for pension expenditure”. 

On the other hand, last week the premier Matteo Renzi, meeting entrepreneurs behind closed doors during the Ambrosetti Forum in Cernobbio, he had assured that there would be no other interventions on pensions. 

Even the Minister of Economy, Pier Carlo Padoan, had said in an interview with the National Quotidiano that "flexibility in leaving the world of work is an important issue, but it is not certain that it will be tackled this year".

To retire, therefore, remain in force the rules established by the Fornero reform of 2011. But remember that from 2016 it will take four more months to retire from work, due to the update that adjusts the rules to the average life expectancy (to date these reviews are every three years, but the Fornero law establishes that from 2019 onwards they become every two years).

Below we propose a scheme with the rules for retiring in 2015.

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).

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