Retirement at 55, it's official: the great revolution begins | From today you can retire to a private life

Great news for many workers who will be able to enjoy more free time. Everything you need to know.

The Italian pension system is a complex mechanism based mainly on the contributory principle. This means that pensions paid today are financed by contributions paid by active workers, and the amount of the pension is strictly related to the contributions paid during the entire working life of the individual.

There are different types of pension, including the old-age pension , which is obtained upon reaching a minimum age (currently 67 years, with at least 20 years of contributions) and the early pension, which allows you to retire before old-age age if you have sufficient contributory seniority.

A key element of the system is the calculation of the pension , which has gradually moved to the contributory method since 1996. This system links the amount of the pension to the contribution amount accumulated by the worker, revalued annually, and to transformation coefficients linked to the retirement age.

The system is mainly managed by INPS , which is responsible for collecting contributions and providing benefits. Although the reforms of recent years have aimed at ensuring the financial sustainability of the system, the debate on flexibility in exiting remains open.

Retirement age increases

In recent years, the retirement age has undergone significant changes , mainly with the aim of ensuring the sustainability of the social security system in the face of increasing life expectancy. The old-age pension, for example, has been progressively raised to the current age of 67 for most workers, with a minimum requirement of 20 years of contributions.

To offer greater flexibility in exit, several options were introduced , the best known of which was Quota 100. This measure, in force from 2019 to 2021, allowed workers to access early retirement upon reaching at least 62 years of age and 38 years of contributions, provided that the sum of the two requirements was equal to or greater than 100.

Retiring at 55: Here's Where

To face future changes in retirement age , informed pension planning is essential. Monitoring your contribution position, staying up to date on regulations and evaluating the different options are crucial steps for a more peaceful future. Diversifying your sources of income, perhaps with supplementary savings or long-term investments, can reduce your dependence on the public system.

This strategy allows you to face any reforms with greater peace of mind . By keeping up to date and investing in continuous training, you can extend your career and reach the pension requirements. If you adopt an integrative and far-sighted approach , you can aspire to a “pension” already at 55 years of age, without depending exclusively on the classic systems. A system that for example has been applied by Sri Lanka, currently the State that offers the lowest retirement age (precisely 55 years).