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Una proposta di riforma per il sistema pensionistico italiano


Author Info

  • Francesco Marchionne

    (Università Politecnica delle Marche, Facoltà di Economia G. Fuà, Dipartimento di Economia, Ancona)


In Italy, the ageing of the population is leading to an increase of the pension expenditures. Before Dini reform in 1995, the earning-related contributory system was financed on a pay-as-you-go basis. It was too much generous for the economic and demographic conditions of the country, therefore it was reformed. Now the benefits are calculated on a defined-contribution formula that penalizes the early retirement and assures lower benefits. However, some considerations put the sustainability of the pension system for future generations under discussion. A multipillar system with capitalisation elements (public defined-benefit component, occupational pension funds and individual pension funds) could reach this goal. In this study, a simulation generates the replacement ratios for the multipillar system in different scenarios and shows that the passage forward this scheme is possible, necessary and, under some conditions, not too expensive.

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Bibliographic Info

Article provided by Economia civile in its journal Moneta e Credito.

Volume (Year): 57 (2004)
Issue (Month): 226 ()
Pages: 161-196

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Handle: RePEc:psl:moneta:2004:23

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Related research

Keywords: Ageing; Demographics; Expenditure; Pay as You Go; Pension; Retirement;

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  1. Andrew B. Abel & N. Gregory Mankiw & Lawrence H. Summers & Richard J. Zeckhauser, 1989. "Assessing Dynamic Efficiency: Theory and Evidence," NBER Working Papers 2097, National Bureau of Economic Research, Inc.
  2. Philippe Jorion & William N. Goetzmann, 1999. "Global Stock Markets in the Twentieth Century," Journal of Finance, American Finance Association, vol. 54(3), pages 953-980, 06.
  3. Raffaele Miniaci, 1998. "Microeconometric Analysis of the Retirement Decision: Italy," OECD Economics Department Working Papers 205, OECD Publishing.
  4. Michele Boldrin & Juan J. Dolado & Juan F. Jimeno & Franco Peracchi, 1999. "The future of pensions in Europe," Economic Policy, CEPR & CES & MSH, vol. 14(29), pages 287-320, October.
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Cited by:
  1. Francesco MARCHIONNE, 2007. "Microsimulation Models. An Integrated Approach with Real Data," Working Papers 296, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.


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