Pensions at a Glance 2013
OECD and G20 Indicators
This comprehensive examination of pension systems in OECD and selected non-OECD countries looks at recent trends in retirement and working at older ages, evolving life expectancy, design of pension systems, pension entitlements, and private pensions before providing a series of detailed country profiles.
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Italy
The new Italian pension system is based on notional accounts. After the reform of 2011, all workers currently contribute to a NDC scheme. Contributions earn a rate of return related to GDP growth. At retirement, the accumulated notional capital is converted into an annuity taking account of average life expectancy at retirement. It applies in full to labour-market entrants from 1996 onwards.
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