Overview

• Labor undersecretary Claudio Durigon has proposed a voluntary option to convert Tfr held at INPS into a monthly annuity to reach the three-times-minimum threshold and retire at 64 with at least 25 years of contributions.
• The proposal would extend the 64-year channel beyond fully contributive careers to mixed-system workers, apply a fully contributive calculation to the pension, and grant the annuity Tfr a favorable tax regime similar to complementary funds.
• INPS, via message No. 2491 dated August 25, clarified that many public employees who exit between ages 65 and 67 no longer benefit from derogations to the new aliquote di rendimento, which for some cases entails lower retributive quotas calculated at 2.5% per year when under 15 years accrued by end-1995.
• The government is working toward freezing the automatic three‑month rise in the statutory retirement age slated for 2027, a move reported to require significant coverage subject to Ragioneria and MEF assessments.
• Unions and opposition reject using Tfr as deferred wages for early exits, while the 2026 budget road map prioritizes an IRPEF cut for middle incomes and explores funding options including bank-related measures and stricter allocation based on spending capacity.