The Italian President signed a law reducing the retirement age

The Italian President signed a law reducing the retirement age

Italian President Sergio Mattarella has signed a law on pension reform, which provides for the reduction of the retirement age and the introduction of a basic income for the poor. About it on January 28 reports Agency ANSA.

The Italian government approved the law on 18 January. The changes will come into effect from April for the private sector and since August — for government agencies.

The age of retirement will now rely on the so-called “quota 100”, which means that the sum of the age and experience must equal 100. The minimum age is 62 years, with 38 years of experience. With the increase in the age pension will require less experience.

Now the retirement age in Italy is 67 years old. This rule was introduced in 2011 during the economic crisis. The government believe that the sooner people will retire, the more will open up jobs for the unemployed.

Changes in the social security system also include the establishment of a basic income rate of €780 per person and €1032 per family.

It will get the unemployed on certain conditions. For example, they will have to undergo retraining and accept jobs in any part of the country. In addition, the amount of basic income will be reduced for homeowners. .

New social legislation held coalition government, which includes right populist “Northern League” and lipopolysaccha “five star Movement”. These parties have departed from the strict economic policy which was conducted by other EU countries, because they believe it inefficient and do not want mass protests in Italy, like those that take place in France.

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The costs of a basic income will be in the first year of seven million euros. Critics of the program point out that it may be viable given the high level of public debt and destabilize the financial system.