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- Herausgeber: Stefano Calicchio
- Kategorie: Fachliteratur
- Sprache: Englisch
At what age do you qualify for an old age pension in Italy? How does one accrue the right to an early retirement pension in the Italian social security model? What are the alternative early retirement options offered by supplementary pensions and the insurance sector?
This guide is designed to answer questions such as these, with the aim of providing the reader with an overview of the main options for accessing a pension in Italy. In practice, an attempt will be made to bring order within a context characterised by constantly evolving rules, regulatory updates and experimental options that are often renewed from year to year. The handbook will therefore examine in depth the rules for access to ordinary and early retirement pensions, together with the mechanisms currently present in the Italian system that can offer early retirement options to specific groups of workers. In addition, some important retirement planning tools will be highlighted, such as the pension statement and the orange envelope. Finally, in the last part of this guide we will discuss the options for accessing ordinary and early retirement (RITA) offered by supplementary pensions, as well as the private insurance mechanisms that make it possible to obtain a legally protected annuity at practically any age against the transfer of a lump sum (thanks to annuity policies).
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Veröffentlichungsjahr: 2021
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Stefano Calicchio
PENSIONS IN ITALY
Table of contents
Introduction
Short introductory glossary
ACCESS TO THE OLD AGE PENSION IN 2021
ORDINARY EARLY RETIREMENT
CONTRIBUTORY EARLY RETIREMENT
EARLY RETIREMENT THROUGH THE WOMEN'S OPTION
QUOTA 41 FOR PRECOCIOUS WORKERS
EARLY RETIREMENT WITH QUOTA 100
THE SOCIAL ALLOWANCE 2021
EARLY PENSIONS, THE 97.6 QUOTA FOR THOSE WHO HAVE DONE HARD WORK
TRADERS' COMPENSATION FROM THE AGE OF 57 FOR WOMEN AND 62 FOR MEN
ISOPENSION
FACILITATED REDEMPTION OF A DEGREE
EARLY RETIREMENT WITH CHILD BONUS
THE HOUSEWIVES' PENSION FROM THE AGE OF 57
SOCIAL ALLOWANCE
THE CONTRIBUTION STATEMENT
THE ORANGE ENVELOPE
THE CITIZENSHIP PENSION
SUPPLEMENTARY PRIVATE PENSION PROVISION
THE EARLY RETIREMENT ANNUITY (RITA) OF PENSION FUNDS
PRIVATE LIFE ANNUITY POLICIES
PRIVATE PENSIONS: HOW TO CHOOSE BETWEEN ANNUITIES AND LUMP SUMS
CONCLUSION
IN-DEPTH INFORMATION
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Copyright information
Author: Stefano Calicchio
Copyright: 2021 © Standard licence - All rights reserved
Disclaimer
This book in no way constitutes social security or tax advice. The text is for information purposes only, so readers interested in finding out more about their personal situation should contact the Inps or their local welfare office directly.
With this disclaimer the Author disclaims all liability for possible inaccuracies in the data given, failure to update the data or financial losses arising from the use or disclosure of the information contained in this book.
Introduction
At what age do I qualify for an old age pension? How does one become eligible for early retirement? What are the alternative early retirement options offered by the supplementary pension and insurance sectors?
This guide was created to answer questions such as these, with the aim of providing the reader with an overview of the main rules governing access to pensions in Italy. In practice, an attempt will be made to bring order within a context characterised by constantly evolving rules, regulatory updates and experimental options that are often renewed from year to year (and which sometimes come to an end).
The main reference mechanism for access to the Inps currently in operation in Italy is the old age pension, which is taken as a reference for analysing the various flexible exit options from work. In order to use this retirement mechanism in the current year, it is necessary to reach at least 67 years of age and 20 years of contributions.
For many workers, however, the age limit for retirement is too far away, especially in the face of objective situations of work hardship or worse, unemployment.
This is the case of those who find it difficult to continue working, even though they have a very long contribution history and have been contributing since a young age. Or those who experience hardship in old age and find themselves in the difficult situation of not being able to continue working.
In cases like these it is possible to turn to the various early retirement mechanisms provided by the system. These sometimes imply the possibility of obtaining access to the Inps regardless of age, as in the case of the early retirement pension indicated by the Fornero law or of the quota 41 intended for those precocious workers who experience particular situations of hardship identified by the legislator.
At other times the early retirement mechanism is linked to the attainment of quotas or specific age and contribution parameters. This is the case, for example, of some experimental measures such as Quota 100, the women's option or the Ape sociale.
Last but not least, the private pension and insurance sectors are of interest. In recent years, these sectors have seen the development of some particularly interesting solutions, especially from the point of view of the age of access.
This is the case of RITA (Rendita Integrativa Temporanea Anticipata), which in some specific situations allows early retirement a decade earlier than the age of old age. While annuity conversion policies provided by private insurers allow for a life annuity at virtually any age, albeit with some specific limitations that will be analysed in the final part of this guide.
Above all, however, there is the need to act in good time in order to take stock of one's contribution history and thus of one's actual retirement prospects. The idea behind this discussion is therefore to provide an up-to-date picture of the main possibilities of access to retirement offered by the public and private sectors, so as to offer concrete support to simplify the picture of the choices actually available.
