ITALY – A definite and structured pension reform in Italy must be put into place before the budget in September, says Antonio d’Amato, president of Confindustria, representative body of the manufacturing and service industries.

Speaking at the Confindustria general assembly, d’Amato said: “Only by having a structural pension reform before this year’s budget can the government begin to relaunch the economy.”

Backing the government’s proposals that those leaving work before the official retirement age should be penalised, d’Amato said: “Those who opt for early retirement will have to receive something less than those who choose to stay at work and shorten their retirement.”

“We have to reduce the weight of contributions, and right now we have to assure the young of the advantages of this reform,” added d’Amato.

Italy’s economic situation and future were addressed looking at a number of issues, but pension reform, believes d’Amato, will have a positive impact on the economy. With an ageing population, Italy must be generous with its young and encourage and provide work.

“From this reform, an Italy must emerge in which people work longer, offering their professionalism, and where young people can enter the market. As a result of reform, these young people will not see their level of pension cover reduced. Rather they can see it increased.”

He praised the government further saying that the government had launched a reform that finally ensured a more modern arrangement where we can most efficiently meet the demand and supply of work.