Economy / Society

Future Italian pensions “won’t assure dignified life”

Italian Minister of Labor Enrico Giovannini admitted during a conference held in Milan yesterday that “the cuts to the pension system won’t necessary assure a dignified future to many people”.

After decades paying very generous pensions, the Italian retirement system was subject to harsh cuts to avoid the country a financial collapse.

However, as a result many people will get a pension worth less than 1,000 euros.

It is unclear how exactly this can be sustainable in a very aged country like Italy.

The Government tried to encourage people to draft private retirement plans with their banks, insurances or trade unions, but many people simply cannot afford that.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s