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.
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