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The Italian NDC Scheme : Evolution and Remaining Potholes

Author

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  • Gronchi, Sandro
  • Nisticò, Sergio
  • Bevilacqua, Mirko

Abstract

Starting from a reconstruction of the political context in which the Italian 1995 pension reform took shape, this paper reviews the essential features of the 1995 and post-1995 legislation and assesses its fundamental shortcomings. A straightforward theoretical discussion highlights both the targets and the instruments representing the hallmark of the nonfinancial defined contribution (NDC) model. The contrast of such theoretical premises with the Italian legislation points out the persistent original mistakes together with the necessary remedies.

Suggested Citation

  • Gronchi, Sandro & Nisticò, Sergio & Bevilacqua, Mirko, 2019. "The Italian NDC Scheme : Evolution and Remaining Potholes," Social Protection Discussion Papers and Notes 136548, The World Bank.
    • Handle: RePEc:wbk:hdnspu:136548
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    Keywords

    Pensions&Retirement Systems; Population&Development; Disability; Social Protections&Assistance;
    All these keywords.

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