The Italian Complementary Retirement System - Beyond Fragmentation?
Daniele Fano, WP TS&W n. 15/06
This paper, written in Italian, draws on the conclusions of a previous contributions on the drawbacks of the present progress of pension reform in Italy and on possible ways to address them2. It explores the possible reasons why, contrary – for example – to Sweden, Italy has failed to implement in a reasonable time-span a general plan. The recently approved default solutions for the second pillar (to be implemented starting from 2007 or 2008) are an important step forward, but will affect only part of the working population and are excessively complex . The paper makes the case for a universally accessible second/third pillar system based on very simple and understandable regulations and consistent with trends in the European Union. More specifically, it proposes the adoption of an EET system as well as generalized default solutions for accessing the system and, as a further step once individuals are in the system, multiple default solutions for choosing portfolios.
La previdenza integrativa italiana: oltre la frammentazione? – Referees: Marcello Messori, University of Rome Tor Vergata and Ruggero Paladini, University of Rome La Sapienza
2Daniele Fano and Maurizio Paniccà, Aspettando Godot – Le implicazioni del mancato avvio della previdenza complementare, March 2006.
Daniele Fano , Laura Marzorati and Maurizio Paniccià, Multiple Default Solutions? Reflections from a case study on the over 55, October 2005
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