Table of Contents:
The financial position of the INPS
At the end of the 2025 financial year, the net balance sheet of the INPS was estimated at 18,787 million euros, a figure that marks a deterioration of 6,287 million euros compared to the forecasts for 2024. This scenario was presented during the session of the Board of Directors and Supervisory Board of the INPS, which approved the budget for 2025. The financial statements show a negative operating result of 9,287 million euros, substantially in line with the forecasts for 2024, which indicated a deficit of -9,210 million
euros.
Macroeconomic indicators and impacts on revenues
Roberto Ghiselli, President of the CIV of the INPS, emphasized that the budget was drawn up on the basis of macroeconomic indicators that predict moderate GDP growth and a slowdown in the employment trend. These factors will have direct effects on contribution revenues, which are expected to amount to 282,812 million euros, an increase of 2.1% compared to the previous year. However, revenues from general taxation are estimated at 164,720 million euros, showing a decrease of 10.61% compared to the 2024 forecasts, mainly due to the
reduction in contribution reductions.
Expected expenses and benefits
Performance expenses amounted to 426,988 million euros, an increase of 1.1% compared to the 2024 adjustment. In particular, expenditure on social security pensions is expected at 325,784 million euros, an increase of 1.2% compared to the previous year. This increase is mainly due to the revaluation of existing pensions. In addition, spending on family support will reach 27,264 million euros, while the Inclusion Allowance is expected to spend 5,692 million euros, down from 6,688 million euros the previous year
.
Future Perspectives and Challenges
The INPS budget for 2025 presents significant challenges, with an increase in expenses and a decrease in revenues. Recent regulatory changes have led to a decrease in early expenses, but maintaining pension spending remains a crucial issue. The reduction of contribution reductions and employment benefits represent additional factors of pressure on the institution’s finances. The careful management of resources will be essential to ensure the sustainability of the Italian social security system.
