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Older workers and pensioners: the challenge of ageing on the Italian public pension system and labour market

Author

Listed:
  • Angelo Marano

    (Department of Economic Affairs, Prime Minister’s Office, Government of Italy)

  • Paolo Sestito

    () (Ministry of Labour and Social Policies, Government of Italy and Bank of Italy)

Abstract

We review the main challenges related to ageing in Italy. Given the key role that working longer may have in order to tackle those challenges, from both a financial sustainability and pension adequacy perspectives, we focus upon the several issues which are relevant in order to increase elderly employment. The paper starts describing the demographic ageing process, then reviews the current labour market situation of older workers and the rules of the Italian pension system, fully documenting the changes already enacted and the current reform proposals made public by the Italian Government. The main purpose of the paper is that of providing a concise but detailed description of the Italian system. Taking account of the complex timing of the different pensions regimes existing over the forthcoming decades and of the evolution of the Italian labour market, however we also discuss the main policy challenges to an increase in elderly employment. These appear to differ very much across the relevant pension regimes, with a yet relevant role of the minimum pension access thresholds related to age and seniority in the forthcoming two decades.

Suggested Citation

  • Angelo Marano & Paolo Sestito, 2004. "Older workers and pensioners: the challenge of ageing on the Italian public pension system and labour market," CeRP Working Papers 32, Center for Research on Pensions and Welfare Policies, Turin (Italy).
  • Handle: RePEc:crp:wpaper:32
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    Cited by:

    1. Michele Belloni & Rob Alessie, 2013. "Retirement Choices in Italy: What an Option Value Model Tells Us," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 75(4), pages 499-527, August.
    2. Sara Flisi & Marcello Morciano, 2011. "Trends and dynamics in the Italian labour market. An empirical evaluation using RFL data, 1993-2007," Center for the Analysis of Public Policies (CAPP) 0091, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    3. Roberto Leombruni & Matteo Richiardi, 2006. "LABORsim: An Agent-Based Microsimulation of Labour Supply – An Application to Italy," Computational Economics, Springer;Society for Computational Economics, vol. 27(1), pages 63-88, February.

    More about this item

    Keywords

    Ageing; public pension systems; labour market;

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