Italy told to curtail State pensions for high earners

The OECD on Monday called on Italy to reform its pension system, making it less generous for high earners.

“Reducing the generosity of pensions for higher-income households could limit the [forecast] increase in [pension] spending, while maintaining adequate public services and social protection,” read the OECD’s economic survey of Italy.

The Paris-based body also stressed the need to phase out a variety of schemes that make it possible to start claiming a State pension before the retirement age, as has already been done with the ‘Quota 100’ scheme.

This scheme made it possible for people to retire if their age and the number of years of their pension contributions added up to 100.

Source: ilglobo