Pensions and retirement plans—Italy—Q&A guide

The following Pensions practice note provides comprehensive and up to date legal information covering:

  • Pensions and retirement plans—Italy—Q&A guide
  • 1. What are the main statutes and regulations relating to pensions and retirement plans?
  • 2. What are the primary regulatory authorities and how do they enforce the governing laws?
  • 3. What is the framework for taxation of pensions?
  • 4. What is the state pension system?
  • 5. How is the state pension calculated and what factors may cause the pension to be enhanced or reduced?
  • 6. Is the state pension designed to provide a certain level of replacement income to workers who have worked continuously until retirement age?
  • 7. Is the state pension system under pressure to reduce benefits or otherwise change its current structure in any way on account of current fiscal realities?
  • 8. What are the main types of private pensions and retirement plans that are provided to a broad base of employees?
  • 9. Are employers required to arrange or contribute to supplementary pension schemes for employees? What restrictions or prohibitions limit an employer’s ability to exclude certain employees from participation in broad-based retirement plans?
  • More...

Pensions and retirement plans—Italy—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to pensions and retirement plans in Italy published as part of the Lexology Getting the Deal Through series by Law Business Research (published: May 2019).

Authors: LABLAW Studio Legale—Luca Failla

1. What are the main statutes and regulations relating to pensions and retirement plans?

In general, pensions and retirement plans in Italy are governed by the following sources of law (in order of priority):

  1. the Italian Constitution;

  2. legislation; and

  3. administrative regulations.

The Italian state pension scheme for employees in the private sector has undergone substantial reforms, which can be found mainly in the following statutes:

  1. Law No. 88 of 9 March 1989, on the restructuring of the Italian National Social Security Body (INPS);

  2. Legislative Decree No. 503 of 30 December 1992, on the gradual restriction of requirements to benefit from the scheme (ie, raising the minimum retirement age and the minimum length of the contribution period);

  3. Law No. 335 of 8 August 1995, on introducing the contributions related to the calculation of the benefit (replacing the previous earnings-related calculation) for the new younger class of employees;

  4. Law No. 449 of 27 December 1997, on the additional gradual restriction of the requirements to benefit from the scheme (ie, raising the age of qualification for the early retirement pension scheme);

  5. Law No. 243 of 23 August 2004 and

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