Pension woes lie ahead, warns Adepp

(ANSA) - Rome, October 23 - Pension experts are "concerned" about the government's latest budget, the head of major pension organizations said Thursday.
    Andrea Camporese, president of the association of private pension funds (Adepp), told an ANSA forum that experts had seen "a glimmer of hope" during pre-budget talks with government, but those were dashed by this week's budget.
    This week's budget boosts the capital-gains tax on profits from pension funds to 20% as of January 1 from the current 11%. Unless social programs are shored up now to ensure support for future retirees, the outlook is bleak, he warned.
    Today's young people will have only small pensions when they retire in future because of current economic woes and poor savings systems, said Camporese.