Pension reform adds 100 bn to debt-Boeri

Govt wants to lower retirement age

(ANSA) - Rome, October 11 - The government's proposed overhaul of the pension system, which will effectively bring down the retirement age, risks adding around 100 billion euros to Italy's public debt, Tito Boeri, the head of social security and pensions agency INPS, said Thursday. The pension reform proposed by the M5S-League government, which would allow workers to retire when the sum of their age and number of years of pension contributions reaches 100, the so-called '100 quota', would lead to an "increase of the pensions' debt destined to weigh on future generations totalling 100 billion" euros, Boeri told the Lower House's labour commission.
    This system would make possible for a person to retire as early as 62, if they have 38 years of contributions. "We cannot refrain from sounding the alarm", the INPS chief added.