LABLAW Founding Partner Luca Failla has written the Pension & Retirement Plans in Italy – First Step Analysis chapter and the Occupational Pension Schemes in Italy Q&A chapter for Lexology – one of the leading international sources of legal updates and information.
In these article employers will learn about:
- What is the Italian state pension system
- The main statutes and regulations relating to pensions and retirement plans in Italy
- The main types of private pensions and retirement plans in Italy
- The framework for taxation of pensions in Italy
- The customary levels of benefits provided to employees in Italy
- When can employees retire and receive their full plan benefits
- If executive-only pension plans in Italy are permitted
- The considerations for employees working permanently and temporarily overseas
- How early retirement affects benefit calculations
- How retirement benefits are affected if the employer in Italy is acquired
- The sanctions employers in Italy face if plans are not legally compliant
- … and much more!
THE QUOTA 100 DECREE
Of particular interest to readers will be the new Quota 100 Decree which allows for retirement in Italy on an experimental basis with a combination of age (62 years) and years of contribution (38 years) for employees who satisfy the conditions from April 2019 up to the end of 2021 (Directive No. 11 of 29 January 2019 of the Italian National Social Security Body).
The law also allows women to retire with a combination of age (58 years) and years of contribution (35 years) at 31 December 2019 (Opzione Donna, Article 16 of Decree No. 4/2019 and Law No. 160 of 27 December 2019).
On the other hand, the law rewards employees who postpone their retirement and continue to work up to the age of 70, regardless of whether they fulfil the minimum requirements. As a result, they will be due a higher amount of benefit. In addition, the law limits the power of the employer to dismiss employees who have not yet reached the retirement ages.
You can read both articles on Lexology’s website here:
For more information please contact Joseph Granato, Communications Manager at L&E Global at firstname.lastname@example.org.