Pension reforms (Italian report)

In 2011-2012 the Italian pension system was modified, in order to cope with the abatement of income from contributions due to unemployment: that reform introduced many changes with an immediate deep impact on the prospects of retirement. That reform completes those ones enforced in the last two decades, pursuing the long-term financial equilibrium of the Italian public pensions’ system through an increase in the retirement age and, above all, through a reduction in the salary/pension replacement rate.