Posts Tagged ‘saving’

Retirement system reform

27 June 2012

….work in progress….

Pension

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The retirement pension, provided by a public institute, are provided according to the terms below:

  • Age pensions: for women and men since an age correspondent to 10 years less the average life expectancy, however not less than 60 years old, save for jobs damaging body health, or catalogued as “physical” ones, i.e. these ones requiring usually the physical lifting of more than 30 kg or equivalent physical effort decided by a medical committee
  • Contributive pensions: with a number of years of social contributes paid to the institute correspondent to these decurring between the 25th year of age and the obtaining of an age pension.

Pensions are computed on a contribution along years to the public institute basis.

The allowances must not be over a gross amount of $ 10.000 per month, including also the occasional gross income from pension funds.

Increasing of the retirement bill with more time working over age.

Retirement includes:

Since 60 years old is provided a progressive reduction of the 20 work hours per week toward a half of the ordinary work hours per week. The hours less are paid by the institute.

A sabbatical year is provided at 50 of age, paid by the institute and computed among the contributive years for a contributive pension.

For teachers, on request, an extension of the years on work is provided, until a maximum of further 10 years; for professors such extension can be for life.

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Pension

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