Pensions, payslip cuts coming with Quota 41 extended to all workers
The debate on pension reform is once again at the center of attention, with the Undersecretary of the Ministry of Labour, Claudio Durigon, which proposes to take back into consideration the idea of 41 years of contributions as a requirement for accessing the pension. This proposal, which has always been supported by Legais based on the idea that 41 years of work are sufficient to guarantee the right to a pension, regardless of age.
However, the economic and social context has changed significantly in recent years. Emergencies such as the pandemic from COVID-19 and international crises have had a significant impact on public finances, making any reform intervention more complex. The increase in costs of superbonus buildings and the social security expense constantly growing pose considerable challenges for the sustainability of the pension system.
In this scenario, the proposal of 41 years for everyone appears difficult to achieve in the short term. Even the recent introduction of Quota 103, with requirements of 41 years of contributions and 62 years of age, recorded limited participation by workers. Furthermore, the idea of entirely calculating the social security allowance based on the contributory system could lead to a reduction of 15-20% compared to current systems.
Durigon also suggests considering the opportunity to include the contributions paid to supplementary pensions in the pension calculation, thus offering the possibility of increasing the amount of the future annuity. However, this would require a complete review of the social security system ADDITIONALwhich is currently struggling to take off due to problems related to financial education and ideological issues.
It is clear that to effectively address the pension issue, a holistic approach is needed, involving economic, actuarial experts, trade unions and employer representatives. Only through in-depth and concrete dialogue will it be possible to develop a pension reform that is acceptable to all parties involved and that responds to the needs of Italian citizens.