Sixth Report on the Italian Pension System – "Pension and Welfare Financial and Population Trends in 2017"

The Report about the “Italian Pension System”, now in its Sixth edition, is the ideal follow up of the publications created by the Pension Expenditure Evaluation Unit (NUSVAP), which was set up under Act n. 335/95 and then wound up in June 2012. The aim of this Paper is to provide an overview of the complex pension system in Italy and a reclassification of pension and welfare expenditure within the overall framework of the State budget.

On the basis of the accounts provided by Social Security organizations, this Report illustrates the trends of pension expenditure, contribution revenues and balances for different public and private compulsory pension schemes in Italy including the Welfare Benefit Scheme (GIAS) and the Temporary Benefit Schemes (GPT) for income-support measures. Moreover, it reviews the main variables: number of active members, number of pensioners, average contribution, average pension, that concur to determining the balance in the current, medium and long-term accounts.

On the basis of the results of the projections of the compulsory pension system, our publication reports the trends and the performance of the total expenditure/GDP ratio after 2017 and in the short, medium and long term, also in terms of financial sustainability and pension adequacy.

Finally, the Report analyses public and private health expenditure, management details of the pension system by careers, gender, timespan, expenditure, region and province, thus offering an in-depth overview of the welfare budget and its management. This information makes it possible to obtain the tools for a comprehensive evaluation of the Italian welfare system.

This report has been published in Italian and English thanks to: