Posts Tagged ‘Welfare state’

Retirement system reform

27 June 2012

….work in progress….

Pension

Governance reform workflow

Governance reform workflow version 2

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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Riforma del sistema pensionistico

27 June 2012

….work in progress….

Pension

Governance reform workflow

Governance reform workflow version 2

Le pensioni,  fornite da un istituto statale, sono previste nei seguenti termini:

  • Pensioni di anzianità: per donne e uomini a partire da un’età corrispondente a 10 anni meno della vita media, comunque non meno di 60 anni, tranne per lavori usuranti, o catalogati come “fisici”, cioè quelli richiedenti abitualmente il sollevamento di più di 30 kg o sforzo fisico equivalente decisi da una commissione medica.
  • Pensioni contributive: con un numero di anni di contributi sociali versatiall’istituto corrispondenti a quelli ecorrenti tra il 25° anno di età e l’ottenimento di una pensione di anzianità.

Le pensioni sono calcolate secondo il metodo contributivo.

Gli assegni non devono superare un ammontare lordo di 8.000 al mese, incluso anche l’eventuale ammontare lordo dei fondi pensione.

Aumento dell’assegno per più tempo di lavoro oltre l’età di pensionamento.

La pensione include:

Dai 60 anni è prevista una riduzione progressiva delle 20 ore lavorative settimanali fino alla metà dell’orario ordinario per settimana. Le ore in meno sono pagate dall’istituto.

Un anno sabbatico è previsto a 50 anni, pagato dall’istituto e calcolato tra gli anni di contributi per una pensione contributiva.

Per gli docenti è disposta su richiesta un’estensione degli anni di lavoro, fino a un massimo di 10 anni ulteriori; per i docenti universitari tale estensione può essere a vita.

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Logo of the United States Pension Benefit Guaranty Corporation, an independent government agency. (Photo credit: Wikipedia)

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Pension

Milton Friedman and the inflation during Eighties

2 January 2011

This letter was for the Italian newspaper Corriere della Sera, I post it here translated.

“Dear dr. Romano,

I would make an observation about the mention of Milton Friedman by Marco Sabelli in pg. 26 of “Corriereconomia” of 10/25/10. If the money supply is 1,000 but the percentage in possession of people is 50%, in terms of inflation that is the same of a supply of 2,000, the double, but with money quantity in possession of people the half percentage, 25%. This observation is like the ones made by Joseph Stiglitz‘s theories and Quantity theory of money by the Cambridge school of economics.

What grows actually in that case is the quantity of money available for financial operations (rather than for investments during the period taken in consideration by Sabelli), i.e. practically buying shares for example, with “the inflations of things like the shares prices” i.e. stock market bubbles.

The fifteen years period ’80-’95 was characterised by big transfers of money from States by their Welfare sector to people, by the way at expenses of the government debt, not balanced by revenues.

I would finally point that 45% of Italian resources is in possession of 10% of the populace.”

Sabelli observed that with a high inflation during the period ’80-’95 there was not an equivalent growth of money supply, in contrast with Friedman’s theories.