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An Empirical Assessment of the Italian Severance Payment

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  • Carolina Fugazza

    ()
    (Center for Research on Pensions and Welfare Policies, Turin)

  • Federica Teppa

    ()
    (DCenter for Research on Pensions and Welfare Policies, Turin)

Abstract

The Italian TFR ("Trattamento di fine Rapporto") is a statutory payment made by firms to staff on separation. Recent reforms of the national pension system are based on voluntary transfers of the TFR to a supplementary pension fund. The purpose of this paper is to provide a probabilistic distribution of how workers currently make use of their severance payment, on the basis of their demographic and occupational characteristics. We find that the TFR mainly acts both as a buffer stock and as an income source upon retirement.

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Bibliographic Info

Paper provided by Center for Research on Pensions and Welfare Policies, Turin (Italy) in its series CeRP Working Papers with number 38.

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Length: 43 pages
Date of creation: Feb 2005
Date of revision:
Handle: RePEc:crp:wpaper:38

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Related research

Keywords: Severance pay; retirement saving; pension schemes;

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Cited by:
  1. Holzmann, Robert & Pouget, Yann & Vodopivec, Milan & Weber, Michael, 2011. "Severance pay programs around the world : history, rationale, status, and reforms," Social Protection Discussion Papers 62726, The World Bank.
  2. Riccardo Calcagno & Roman Kraeussl & Chiara Monticone, 2008. "An Analysis of the Effects of the Severance Payment Reform on Credit to Italian SMEs," Tinbergen Institute Discussion Papers 08-107/2, Tinbergen Institute.
  3. Riccardo Calcagno & Roman Kraeussl & Chiara Monticone, 2008. "An Analysis of the Effects of the Severance Payment Reform on Credit to Italian SMEs," Tinbergen Institute Discussion Papers 08-107/2, Tinbergen Institute.

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