mast image

Special Report

Impact investing

Sections

Italians told to delay retirement

The Italian government will be introducing incentives to encourage employees to delay retirement, in an attempt by the Italian government to cope with an ageing population. The Italian government calculates that by 2025 pensioners will outnumber workers.
A pensions reform has been discussed by the Italian government for some months, but it was unclear whether, in order to keep people at work for longer, employees would be offered a cash incentive to stay, or whether they would have to pay a penalty if retiring before the age of 60. Currently Italians can claim a state pension at the age of 57 as long as they have worked at least 35 years.
Roberto Maroni, minister for welfare, labour and social policy, has objected to the penalty system, and has proposed plans to introduce incentives to employees in the form of tax relief on their pensions or bonus payments. Maroni firmly denies, however, rumours that these bonuses will increase pension incomes by up to 20%. It is insisted that, as yet, nothing has been formally decided, but the reforms may be included in the budget.
Also under discussion is the possibility of increasing the age of retirement, although the unions have expressed their disapproval of such a measure. Employees would be required to have contributed for 37 years, with the minimum retirement age set at 58.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<