Two decades of pension reforms in Italy: shedding light on a series of mirror-images

The chapter focuses on the pension reforms passed in the years between 2000 and 2012 (with a brief summary of events at the end of the 20th century). The second section sheds light on the key traits of the reforms passed so far. The third section focuses on the most recent reforms introduced in the shadow of the Great Recession, both by the Berlusconi government in 2009/10 and then by the Monti government in 2011. The fourth section looks at the main outcomes in terms of spending trends and the levels of benefit, with a specific focus on the role of public schemes and supplementary pension funds. The fifth section addresses the third paradox, concerning politics. The sixth section puts the Italian choices in context, comparing Italian pension policy with what has happened in some other European countries. The seventh section contains conclusions.