A Product of Reform

Italian Pensions


With a public pension system paying out 14.9% of GDP to retirees, and facing a demographic time bomb of a rapidly aging population, Italy needed to take firm action. A series of reforms launched by prime ministers, Amato, Dini and Prodi in 1992, 1995 and 1997 respectively brought into a place a notional defined contribution system which slashed the replacement rate of salary that workers could expect from the state from 80% before the first reform to as little as 30% for some participants.


Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here