The Reform of the Pension System in Italy

Name: Work Video:
Duration: 3 min 30 s
Description: Italy's pension system was reformed in August 1995.The new system has various desirable long-run properties and, overall, it represents an improvement over earlier systems.However, it fails to address two longstanding problems: extremely high contribution rates, and a lack of provisions for dealing with the substantial deterioration in demographic ratios expected over the next 30-40 years.
A. Javier Hamann
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