IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/20077.html
   My bibliography  Save this paper

Current Features and Future Problems of the Italian Pension System

Author

Listed:
  • Scopelliti, Alessandro Diego

Abstract

The paper analyzes the issue of the financial sustainability of the Italian Pension System in the long-run, by discussing the main reforms occurred in the last few years and by examining some recent data: in particular, the data of the Italian Agency for the Evaluation of Social Security Expenditure on the budget of specific funds of the Social Security System, like the Fund for Private Employees and the Funds for Public Employees, and moreover the OECD data on the evolution of the replacement rate between pension benefit and labour income. Observing the evolution over the period 1989-2006, we notice that the current deficit of the first pillar of the pension system is caused, much more than in the past, by the deficit of the Funds for Public Employees, for the relevant difference between the value of the benefits and of the contributions, which is not registered in the other funds.

Suggested Citation

  • Scopelliti, Alessandro Diego, 2009. "Current Features and Future Problems of the Italian Pension System," MPRA Paper 20077, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:20077
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/20077/1/MPRA_paper_20077.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Queisser, Monika & Whitehouse, Edward, 2005. "Pensions at a glance: public policies across OECD countries," MPRA Paper 10907, University Library of Munich, Germany.
    2. Marcello D’Amato & Vincenzo Galasso, 2002. "Assessing the Political Sustainability of Parametric Social Security Reforms: the Case of Italy," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 61(2), pages 171-213, December.
    3. Mr. A. J Hamann, 1997. "The Reform of the Pension System in Italy," IMF Working Papers 1997/018, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Christine Mayrhuber & Gerhard Rünstler & Thomas Url & Werner Eichhorst & Michael J. Kendzia & Maarten Gerard & Connie Nielsen, 2011. "Pension Systems in the EU. Contingent Liabilities and Assets in the Public and Private Sector," WIFO Studies, WIFO, number 43938.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Brugiavini, Agar & Galasso, Vincenzo, 2004. "The social security reform process in Italy: where do we stand?," Journal of Pension Economics and Finance, Cambridge University Press, vol. 3(2), pages 165-195, July.
    2. Raquel Fonseca & Thepthida Sopraseuth, 2005. "Welfare Effects of Social Security Reforms Across Europe : the Case of France and Italy," CSEF Working Papers 138, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    3. Håkan Selin, 2012. "Marginal Tax Rates and Tax‐Favoured Pension Savings of the Self‐Employed: Evidence from Sweden," Scandinavian Journal of Economics, Wiley Blackwell, vol. 114(1), pages 79-100, March.
    4. Tim Krieger & Christine Meemann & Stefan Traub, 2022. "Inequality, Life Expectancy, and the Intragenerational Redistribution Puzzle - Some Experimental Evidence," CESifo Working Paper Series 9677, CESifo.
    5. Gilles Le Garrec & Stéphane Lhuissier, 2011. "Life expectancy, heavy work and the return to education: lessons for the social security reform," SciencePo Working papers Main hal-01069511, HAL.
    6. T. Buyse & F. Heylen & R. Van De Kerckhove, 2011. "Pension reform, employment by age, and long-run growth in OECD countries," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 11/719, Ghent University, Faculty of Economics and Business Administration.
    7. Deborah A. Cobb‐Clark & Vincent A. Hildebrand, 2011. "Portfolio Allocation In The Face Of A Means‐Tested Public Pension," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 57(3), pages 536-560, September.
    8. Villa, Miguel & Rivadeneira S., Luis, 1999. "El proceso de envejecimiento de la población en América Latina y el Caribe: una expresión de la transición demográfica," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 34671, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    9. John B. Williamson & Matthew Williams, 2005. "Notional Defined Contribution Accounts," American Journal of Economics and Sociology, Wiley Blackwell, vol. 64(2), pages 485-506, April.
    10. Erik Meijer & Arie Kapteyn & Tatiana Andreyeva, 2008. "Health Indexes and Retirement Modeling in International Comparisons," Working Papers 614, RAND Corporation.
    11. Maclennan, Duncan & Muellbauer, John & Stephens, Mark, 1998. "Asymmetries in Housing and Financial Market Institutions and EMU," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 14(3), pages 54-80, Autumn.
    12. Flood, Lennart & Klevmarken, Anders & Mitrut, Andreea, 2006. "The income of the Swedish baby boomers," Working Papers in Economics 209, University of Gothenburg, Department of Economics.
    13. Edward Whitehouse, 2007. "Pensions Panorama : Retirement-Income Systems in 53 Countries," World Bank Publications - Books, The World Bank Group, number 7177.
    14. Tim Buyse & Freddy Heylen & Renaat Van de Kerckhove, 2013. "Pension reform, employment by age, and long-run growth," Journal of Population Economics, Springer;European Society for Population Economics, vol. 26(2), pages 769-809, April.
    15. Carvalho, José Alberto Magno de & Andrade, Flávia Cristina Dumond, 1999. "Envejecimiento de la población brasileña: oportunidades y desafíos," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 34673, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    16. Krieger Tim & Traub Stefan, 2011. "Wie hat sich die intragenerationale Umverteilung in der staatlichen Säule des Rentensystems verändert? / Has Intragenerational Redistribution Become Less Important in Pension Systems’ Public Pillar?: ," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 231(2), pages 266-287, April.
    17. Vincenzo Galasso & Paola Profeta, 2004. "Lessons for an ageing society: the political sustainability of social security systems [‘Assessing dynamic efficiency: theory and evidence’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 19(38), pages 64-115.
    18. Chackiel, Juan, 1999. "El envejecimiento de la población latinoamericana: ¿hacia una relación de dependencia favorable?," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 34684, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    19. Robert Fenge & Martin Werding, 2004. "Ageing and the tax implied in public pension schemes: simulations for selected OECD countries," Fiscal Studies, Institute for Fiscal Studies, vol. 25(2), pages 159-200, June.
    20. Martin, John P. & Whitehouse, Edward, 2008. "Reforming Retirement-Income Systems: Lessons from the Recent Experiences of OECD Countries," IZA Discussion Papers 3521, Institute of Labor Economics (IZA).

    More about this item

    Keywords

    pay-as-you-go system ; retirement age ; defined contribution ; financial sustainability ; replacement rate ; private pension funds;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:20077. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.