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Italy Moves to Set 64-Year Retirement Age and Freeze 2027 Hike

A finance ministry technical review is evaluating how to halt the 2027 life-expectancy linked age rise, assess costs for a universal 64-year retirement threshold, plan structural reforms for 2029.

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Overview

  • The MEF’s technical evaluations aim to block the scheduled three-month increase in pension age from January 2027 at the request of Undersecretary Claudio Durigon and with support from Minister Giorgetti.
  • Durigon has denounced the life-expectancy adjustment mechanism as “perverse” and outlined plans for a comprehensive pension overhaul by 2029.
  • Officials are examining the fiscal impact of extending the 64-year exit option beyond pure contributory workers to those in mixed-system schemes.
  • Cost estimates diverge sharply, with INPS forecasting a €3 billion bill for freezing the age rise and the finance ministry’s Ragioneria projecting €300–400 million.
  • CGIL and the PD argue the 64-year threshold remains out of reach for lower-income workers and condemn the postponement of substantive reforms until after the 2027 elections.