2021 - Franco Angeli
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History of the Italian pension system from 1971 to 1991 : Towards the economic-financial crisis
P. 69-90
- This paper aims to analyze the Italian pension system in the period between 1971 and 1991, highlighting the factors that contributed to producing a financial crisis that cast doubt on the sustainability of the entire pension structure. The measures put in place to contain expenditure, such as the raising of the age for ob-taining an old age pension and the revision of the pension calculation method, will be illustrated, showing how they were only adopted by the legislature after a dec-ade since they were formulated. The analyses carried out show that not even the contribution from the state to compensate for the inadequacy of contribution rev-enues was sufficient to cover pension expenditure.
- Thus, the deficits accumulated by the pension schemes were the natural consequence of a failure to periodically adjust contribution rates. This measure was considered necessary to cope with the effects of certain regulations which automatically adjusted pensions and im-proved the extension of benefits. [Publisher's text]
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Information
ISSN: 2280-188X
KEYWORDS
- Insurance, INPS, Pension system
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In this issue
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- The two distinct systems of socialist Albania and SFR Yugoslavia : A comparative analysis using Kornai's Main Line of Causality
- Pierre Uri : The making of a European economic order
- History of the Italian pension system from 1971 to 1991 : Towards the economic-financial crisis
- Jacques de Larosière : in search of a better world financial order
- Going beyond borders? : an ongoing research project on business in European integration
