Minimum pension 2024: what is the amount and how will it change next year

Understanding the Minimum Pension System in Italy

Have you ever heard about the minimum pension in Italy? It is a common topic, but understanding how it works and its impact on pension calculations can be complex.

In Italy, there is a threshold known as “pensione minima” (minimum pension), but it is not uncommon for pensions to be lower than this amount.
So, what is the purpose of the minimum pension if there are pensions even lower? The explanation is quite simple: the State guarantees a certain amount only to those in difficult economic situations.
It does not intervene for those who, despite having a low pension, have other incomes that allow them to make ends meet.

Moreover, the period worked before retirement also affects the guarantee of a minimum pension.
The law restricts this right to those who have accrued contributions by December 31, 1995.
This means that individuals who entered the workforce after 1996 are excluded from ensuring a top-up to reach the minimum pension amount, posing a serious issue as more people might not achieve an adequate income in the future.

Minimum Pension Amount in 2024

Each year, the minimum pension amount set by Inps is adjusted for inflation, similar to other pensions and welfare benefits.
Following a 5.4% increase at the beginning of 2024, this year the minimum pension value is €598.61 per month, €7,781.93 per year.

Integration with the Minimum Benefit

Once the minimum pension amount is set, pensions below this threshold are entitled to an integration.
For example, someone receiving €300 could receive a top-up of €298.61 to reach the minimum amount.

However, merely having a pension below the minimum is not enough to qualify for integration.
The pension calculation must have included periods under the retributive system before December 31, 1995.
Additionally, the presence of other incomes influences the integration amount.

If the total income of a pensioner is below €7,781.93 annually, the full integration is granted.
If the income is above but below €15,563.86 (twice the minimum benefit), a partial integration is calculated accordingly.

Other incomes play a crucial role in determining the integrated amount with the minimum benefit.

Extraordinary Revaluation

No income limit or pre-1995 contribution requirement is necessary for the extraordinary revaluation introduced in the 2023 Budget Law.
Pensions below the minimum benefit receive an additional increase.
This can raise the minimum pension to a maximum of €614.77.

2025 Changes in the Minimum Pension

Each year, the minimum pension is adjusted based on inflation rates.
The estimated percentage for 2025 is 1.6%, potentially increasing the minimum threshold by €9.57 to around €608.18 monthly.
However, confirming the 2.7% extraordinary revaluation for 2025 is uncertain due to limited resources.

Extending the right to the minimum integration for those under a full contributory regime is unlikely due to high costs, despite being in the government’s agenda.
Balancing financial resources will be crucial to sustain the minimum pension system effectively.