Italy

ITALY - The ‘95 pensions reform that would level wages for a saving of e100bn in five years should be our "compass" for the way forward, said employment minister Cesare Damiano.

ITALY - The reluctance of the banks association, Associazione Bancaria Italiana (ABI), to give companies credit at lower tax rates following the 2008 pensions reform threatens to derail the entire reform.

ITALY - The growth of the supplementary pensions sector has been insufficient, with only 13% of workers registering for membership, a figure which must improve for the pensions sector to be sustainable, said Italian pensions regulator president Luigi...

ITALY - Social solidarity minister Paolo Ferrero has promised his dedication to increasing the state pension's purchasing power, following a meeting with pensioners' unions.

ITALY - Second pillar pensions must be launched immediately to make up for the decreasing amounts people are receiving from the pay-as-you-go state system, declared the Italian Work Union (UIL - Unione Italiana del Lavoro).

ITALY - There is no emergency situation with regard to pensions in Italy, claimed Luigi Angeletti, secretary general of the Italian Work Union (Union Italiana del Lavoro - UIL).

ITALY - Government intervention prior to the introduction of the Berlusconi pension reforms in 2008 must have a long term view for sustainability of the system rather than give importance to making quick returns.

ITALY - Discussions on pensions between the government and the social partners have stalled following the unions' objection to a proposal to raise the retirement age for women.

ITALY - The proposal to raise women's retirement age is a "useless punishment," according to Paolo Pirani, confederal secretary of the Italian Work Union (Union Italiana del Lavoro - UIL)

ITALY - Industry-wide pension funds have hit out against the producers of a popular television show claiming the report was superficial and painted an incorrect picture of second pillar pensions.