December 2018

14Dec

Welfare, pensions to be revised to meet Italian deficit target

Italy’s government will cut “a few billion” euros from its two main reforms in order to hit the new deficit target it proposed to the European Commission, Deputy Industry Minister Dario Galli said on Thursday. Prime Minister Giuseppe Conte met EU Commission President Jean-Claude Juncker on Wednesday and offered to lower Italy’s deficit target for next year to 2.04 percent of gross domestic product from 2.4 percent previously to avoid disciplinary action from the EU. “A few billions (in savings) compared...

December 14, 2018
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November 2017

27Nov

Life-Cycle Labour Supply and Social Security Wealth: Evidence from the 1995 Italian Pension Reform

By Giulia Bovini (London School of Economics & Political Science (LSE) - Department of Economics) This paper studies life-cycle labour supply responses to lower social security wealth. An over-arching pension reform implemented in Italy in 1995 (the Dini pension reform) provides the setting for the analysis. While ushering the transition from a defined-benefit (DB) to a notional defined-contribution (NDC) scheme, it introduced discontinuities in the social security replacement rate based uniquely on years of qualifying retirement contributions accrued by the...

November 27, 2017
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21Nov

Italy. CGIL declares action over pensions

Susanna Camusso, the leader of Italy's biggest trade-union confederation, the leftwing CGIL, said Tuesday that the union will take action on December 2 due to the "great inadequacies" of the government's proposals on pensions and retirement. But the big three trade unions were split, with UIL and CISL expressing satisfaction after talks with Premier Paolo Gentiloni's government. CGIL wants an increase in the retirement age to 67, set to kick in in 2019, to be postponed, saying many people doing...

November 21, 2017
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