Un criterio di pseudo-equit? per la determinazione dei trattamenti pensionistici di anzianit? in Italia

Antonino Di Pino

STUDI ECONOMICI, 2001, vol. 2001/73, issue 73

Abstract: Un criterio di pseudo-equit? per la determinazione dei trattamenti pensionistici di anzianit? in Italia (di Antonino Di Pino) - ABSTRACT: Seniority pay-as-you-go pensions still exist in Italy, but are scheduled to disappear in the next years. A new contribution-based formula has been introduced by the Dini reform, but the convergence of the pay-as-you-go mechanism to the new design is very slow. A heated debate is currently under way, as to whether the old mechanism should be maintained (safeguarding the expectations of older workers), or abolished sooner. A third solution is proposed in this paper: to revise the seniority pensions formula, so that the implicit rate of return be identical within each cohort. The main result is that the early-retirement decision of the workers would be discouraged. In order to measure the true implicit rate of return, we derive the expectation of life at retirement by building new Italian cohort life tables. JEL Classification: C41, J11, J26

Date: 2001
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