Table of Contents:
Longevity in Italy: a growing phenomenon
Italy stands out as one of the countries with the greatest longevity in the world, with an increasing number of centenarians. According to updated data, as of January 1, 2024, our country has more than 22,500 centenarians, of whom 83% are women. This trend of longevity is not only a source of pride, but it also leads to an important reflection on financial planning for the future.
With life expectancy continuing to increase, it is essential to consider how to economically face a retirement period that can
last decades.
The need for supplementary pension
With the public pension allowance tending to shrink, it is essential to supplement your income with forms of supplementary pension provision. A Moneyfarm report highlights how planning ahead can make a difference. For example, a worker with a net salary of 2,000 euros per month, who retires at 64, may find himself with a pension allowance of only 1,280 euros, a whopping 720 euros less than his current salary. This scenario highlights the importance of accumulating sufficient capital to maintain your standard of living even after you retire from work
.
Regional differences and life expectancy
The statistics also show significant regional differences in terms of longevity and life expectancy. For example, Liguria has the highest concentration of centenarians, while provinces such as Enna and Naples have the lowest life expectancy. It is interesting to note that the provinces with the longest-lived newborns do not always coincide with those where retirees live the longest. This suggests that retirement planning must take into account not only your current situation, but also local demographic and health trends
.
Calculate the capital needed for a peaceful retirement
To guarantee an adequate pension, it is crucial to calculate the capital needed to supplement the pension allowance. For a self-employed person with a net income of 2,000 euros, the pension allowance could drop to 860 euros, requiring a monthly supplement of 1,140 euros. This leads to a necessary capital of 287,280 euros for a life of up to 85 years, which rises to 560,880 euros for those who reach 105 years old. These numbers underscore the importance of starting to plan your financial future as soon as possible, to avoid unwelcome surprises during retirement.
