Overview

• The proposal from deputy labor minister Claudio Durigon would let workers convert TFR held at INPS into a pension-style annuity to reach the €1,616 threshold needed to retire at 64 with at least 25 years of contributions.
• It would extend the 64-at-64 option beyond fully contributive careers to mixed-system workers, with the entire pension calculated under the contributive method and annuity taxation aligned to complementary pensions.
• Coverage would largely be limited to employees whose TFR is managed by INPS, typically in firms with 50 or more workers, and using TFR could preclude legal advances for a first home or medical emergencies.
• CGIL, CISL and opposition parties criticize the idea as using deferred wages to finance early exits, while experts caution that demographic pressures argue for later retirements.
• The measure remains under analysis with costs unquantified and subject to Ragioneria and INPS review for possible inclusion in the 2026 Budget, as the government signals no 2027 age-hike, likely extends the Bonus Giorgetti, and cools on renewing Quota 103 after just 1,153 2024 awards.