(ANSA) Rome, April 3 - As many as 96% of old-age pensions
being paid to retired state railway employees this year would
have to be reduced if calculated on the basis of contributions
paid, according to the state social security agency INPS.
The over-payment - in 27% of cases the railway workers'
pensions would have to be cut by 30% - are related to a deficit
in their special pension fund that amounted to 4.2 billion euros
in 2013, according to an INPS study entitled "operation Open
Doors".
The special fund includes Railway employees hired before
April 1, 2000, and was already in the red before it was taken
over by INPS and since 1973 the state made up its deficits.
After April 1, 2000, the fund's fortunes worsened as new
employees joined a different pension fund, the FPLD, meaning the
Special Fund had fewer contributions.
Because pension rules were more generous in the past, most
pensioners taking their pensions from 2000 to 2014 have received
payments worth at least 20% more than their contributions
warranted, and 8% receive payments worth more than 40% more than
their contributions would entitle them to, INPS said.
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