(ANSA) Rome, July 8 - As many as 6.8 million pensioners
have to survive on gross pre-tax pensions of less than 1,000
euro a month and 2 million of those live on less than 500 euro
monthly, Italy's INPS pension agency disclosed Tuesday.
In its annual report for 2013 INPS also disclosed that the
number of pensioners cashing in their pension entitlement for a
lump sum of cash has fallen dramatically following changes in
the rules under the Fornero reforms.
Cashing in of pensions by private pension scheme holders
fell by 32% in 2013 compared with 2012 for people taking early
retirement and by 57% by people entitled to old age pensions.
Inps itself registered a negative balance of 9.9 billion
euros for 2013 due in large part to the financial woes of
Inpdap. Inps net wealth was registered at as much as 7.5 billion
euro, however, an improvement thanks to the stability law.
Therefore, the Inps report said, "the sustainability of the
pension system" is not at risk in Italy.
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