The Italian NDC Scheme: Evolution and Remaining Potholes

Sandro Gronchi, Sergio Nisticò and Mirko Bevilacqua

No 136548, Social Protection Discussion Papers and Notes from The World Bank

Abstract: Starting from a reconstruction of the political context in which the Italian 1995 pension reform took shape, this paper reviews the essential features of the 1995 and post-1995 legislation and assesses its fundamental shortcomings. A straightforward theoretical discussion highlights both the targets and the instruments representing the hallmark of the nonfinancial defined contribution (NDC) model. The contrast of such theoretical premises with the Italian legislation points out the persistent original mistakes together with the necessary remedies.

Keywords: Pensions&Retirement Systems; Population&Development; Disability; Social Protections&Assistance (search for similar items in EconPapers)
Date: 2019-04-01
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