RT Book, Section A1 OCDE T1 Italy JF OECD Pensions at a Glance YR 2006 FD mai 02 SP 136 OP 139 AB The new Italian pension system is based on notional accounts. This is a variant of a traditional pay-as-you-go, public pension system. Contributions earn a rate of return related to GDP growth. Benefits are a function of accumulated notional capital and an actuarial factor (which takes account of average life expectancy at retirement). It applies in full to labour-market entrants from 1996 onwards... PB Organisation for Economic Co-operation and Development LA Anglais DO 10.1787/pension_glance-2005-27-en UL http://www.oecd-ilibrary.org/;jsessionid=ktubop4l31cq.x-oecd-live-02content/chapter/pension_glance-2005-27-en