Stopping retirement-age mechanism would cost 140bn-INPS

(ANSA) - Rome, November 15 - Tito Boeri, the head of Italian pensions and social security agency INPS, said Wednesday that stopping the mechanism via which the retirement age increases on the basis of life expectancy would cost the State an extra 140 billion euros from now until 2040. "We should think more about children in how the country's social spending is distributed," Boeri told a conference on child poverty. The retirement age is set to increase to 67 in 2019 after ISTAT recently reported an increase in life expectancy.
    Trade unions, however, have asked for the increase to be put on ice, arguing some heavy jobs should be exempted.