Waiting for Godot - Implications of the Failure of the Italian Complementary Pension System to Develop

Daniele Fano & Maurizio Paniccià, WP TS&W n. 14/06

This paper, written in Italian, analyses the failure of the Italian Complementary Pension System to develop to date. We calculate that private sector employees have foregone about a third of their complementary pension and that the opportunity for building a true Institutional Sector has been missed. The fact that the labor market has become both more complex and more flexible in the past ten years poses new challenges. Moreover the active population in Italy appears smaller than the EU average and than countries that have been more successful in implementing their reforms such as Sweden, where women, younger workers and older workers have a more relevant presence on the labour market.

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