Carolina Fugazza () (Center for Research on Pensions and Welfare Policies, Turin) Federica Teppa () (DCenter for Research on Pensions and Welfare Policies, Turin)
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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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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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