New possibilities are emerging in the field of pension provision for 2024, but with limited resources this year, a comprehensive reform seems out of the question. Minister Giorgetti recently emphasized the need for an additional 15 billion in spending to cope with the increase in the Official Rate of the ECB
.
The priorities for social security spending seem to have been identified, trying to respond to two different and partly conflicting needs: on the one hand, the pension advance for the most vulnerable categories of workers, extending some measures already in force; on the other, the disturbing retirement perspective of young people, a problem known for some time but recently highlighted by alarming data.
During the last of the 4 meetings between the social partners and the Observatory on Social Security Expenditure established by the Meloni Government, the feasibility of the proposed measures was examined and decisions were taken regarding the urgent ones. Today we will take stock of the situation
.
Pensions in 2024: new provisions to guarantee greater benefits for workers
In the Italian pension landscape, the promises of a pension advance at 41 for everyone cannot be realized in the short term. This proposal has been postponed to a still indefinite future, presumably within
the next three years.
On the contrary, it seems likely that the three measures currently in force, namely Quota 103, Women’s Option and Social Bee, will also be extended to 2024.
Quota 103, aimed at both public and private workers, provides for leaving at 62 years of age with at least 41 years of contributions (even in cumulation between different administrations). Detailed instructions for applying for Fee 103 are available here.
Opzione Donna is a measure that facilitates “disadvantaged” public and private workers, allowing them to retire at 58-59 with at least 35 years of contributions. This option also involves a fully contributory calculation of the pension allowance, without the requirement to have children as is the case today. Here you can find all the current rules on the 2023 Women’s Option.
The Social Bee offers the possibility of early retirement with a maximum bridging allowance of 1500 euros at 63 years for unemployed workers, with disabilities or caregivers. The updated rules on the 2023 Social Bee can be found here. In addition, a specific APE hypothesis has been introduced for women, allowing them to retire at 61-62 with the subsidy without reducing the final pension allowance based on the contribution calculation
, unlike the Women’s Option.
Another novelty concerns minimum pensions. A part of the political majority is vigorously supporting the increase in these pensions, bringing them to at least 700 euros. To this end, the intention has emerged to suspend the indexation of the highest checks again to
obtain the necessary resources.
Supplementary pension for young people in 2024
The main debate of the September 18 meeting focused on young people under the age of 35 and, in general, on those who started working after the entry into force of the contribution system for calculating pensions (from 1996 onwards). Under this system, the pension is calculated on the basis of the contributions paid and not on the salary received when leaving work, as was the case in the old pay system. For more information on the exit date and retirement requirements in 2023, read here.
In this regard, Minister Calderone proposes to facilitate access to supplementary pension, allowing the value of the potential supplementary pension to be counted to reach the minimum amount of the pension allowance that allows you to retire at 67 years of age.
In order to facilitate the possibility of paying severance pay into a supplementary pension fund, the introduction of ‘silence-consent’ is also being considered.
Finally, it is now certain that the deductibility of payments to supplementary pension funds will have increased. Currently, the maximum limit is 5,164.57 euros and additional exemptions could be linked to family burdens
, for example.
The benefits will always concern contributions aimed at guaranteeing a pension income and not the accumulation of capital.