Overview

• INPS disbursed 98,356 early retirement pensions in the first half of 2025, down 17.3% from 118,550 in the same period last year.
• Total pensions granted in H1 2025 numbered 397,691, covering old-age, disability and survivors’ benefits alongside early retirements.
• The sustained decline reflects tighter eligibility introduced under Quota 103, which links early exits to a full contributory calculation for 62-year-olds with 41 years of contributions.
• After revising its monitoring methodology to include late-decorrenza payments, INPS experts estimate early retirement claims will fall about 11% by the end of 2025.
• Women continue to face a sharp pension gap, receiving an average €1,009 per month—over 30% less than men’s average €1,449.