SOCIAL SECURITY: THE PENSION SCHEME REFORM (Il Sole 24 Ore, 13th March, 2012, page 13)

The social security reform, provided by Law Decree No. 201/2011 aims at harmonization. In 2021, in fact, men and women will retire for old age at 67 years. Furthermore, for employees whose pension treatment is entirely calculated through the so called contributive system, it is possible to obtain an anticipated treatment if they have 20 years of contributions at least and the first monthly installment of pension is at least 2,8 times the minimum treatment for needy people, so called “assegno sociale”. In addition, for the employees so called “precoci” the anticipated pension treatment is allowed with 41 years and one month of contributions for women and 42 years and one month for men. Lastly, the Law Decree No. 201/2011 identified the persons to whom the previous pension treatment rules have to be applied; among these subjects: (i) the employees whose employment relationship is terminated by December 31, 2011 with individual agreements or in pursuance of collective agreements concerning inventive payments signed by the most representative (at the national level) trade unions; (ii) the employees who have terminated or agreed to terminate the employment relationship within a collective procedure of mobility concluded with a union agreement before December 4, 2011.