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The Ongoing Debate on Retirement Age and Pension Reform in Italy

The issue of pensions is a topic that always sparks heated debates, especially when it comes to the retirement age.
Recent reforms, such as the Fornero law, have established that the retirement age in Italy will continue to increase, aligning with life expectancy and the country’s demographic situation.

The Fornero law of 2011 states that the requirements for accessing a pension are revised every two years based on the trend of life expectancies after the age of 65.
If we live longer, we will receive a pension for more years, increasing the costs borne by the State.
To maintain the balance of public accounts, it is therefore necessary to extend the working career.

Estimates from the State Accountant General’s Office show that, following the introduction of the Fornero reform, the ratio between pension expenditure and GDP has grown, reaching 15.1% in 2022.
This ratio could continue to increase up to 17% by 2040, before starting to decrease again thanks to the full transition to the contributory calculation system.

From 2027, an increase of about 2 months every two years is estimated, meaning that every 12 years there could be a 1-year increase in the retirement age.

Faced with these scenarios, the question arises: at what age would you like to retire? Do you think it is fair to continue increasing the retirement age, or do you believe that other solutions should be found to maintain the balance of public accounts?

If you want to share your opinion on this matter, click on the box above to participate in the survey.