'Level 100' won't spur youth hirings

(ANSA) - Rome, November 12 - The government's plan to effectively lower the retirement age, allowing people to end their working lives when their age and number of years of social-security contributions reach 100, will not automatically lead to the entry into the labour market of young people, Confindustria industrial employers group head Vincenzo Boccia said Monday.
    Boccia spoke after the parliamentary budget office (UPB) said the 'level 100' reform would mean people getting State pensions between 5-30% lower than under the current system.
    "I should like to point out that the benefits to employment deriving from the revision of pension rules are far from automatic," Boccia told the House budget committee.
    "We have not been able to find an analysis that substantiates the hypothesis of a 1-to-1 replacement between young people and people who are more advanced in age", he said.