These days, many people in Italy are talking about the Fornero pension reform as something “impossible to change.” But in fact, an amendment was passed only a month ago, as part of the 2018 budget law, which went almost unnoticed, but in fact changed a very important aspect of the pension reform, concerning large companies in particular.
It concerns an early retirement provision, fully distinct from the Ape aziendale (a provision for the possibility of early retirement of workers with the company paying for a part of the costs of their pension for the months remaining). The amendment to Article 4 of the 2011 law on pensions nearly doubled how many years of anticipation the so-called “isopensione” (a form of early retirement) would be available for, from four to seven years. This means that workers can retire up to seven years early, with full benefits, on the condition that their employer pays a sum corresponding to the contributions that would have been made by the workers to the pension fund if they had worked until the regular age of retirement. This is a heavy financial burden for an employer, which only multinationals would be able to afford: so far, only Enel and Telecom Italia have used this provision, for a very small number of employees.