Thursday, December 3, 2015

Pensions: ISTAT, total expenditure in 2014 exceeds 17% of GDP – Il Sole 24 Ore

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This article was published on 3 December 2015 at 11:21.
The last change is the December 3, 2015 at 11:29.

In 2014, the total expenditure for pension obligations exceeded 277 billion Euros, an increase of ’1.6% on 2013. As a percentage of GDP has grown by 0.2 points from 16.97% to 17.7%. The notes ISTAT explaining that were paid 23.2 million performance.

The pensioners in Italy can count on more than 5 thousand euro per month are almost 240 thousand, only 1.4% of the total, says the Institute of Statistics in its study “Treatments and pension beneficiaries” reported 2014. Other 767mila pensioners (4.7% of the 16.25 million retirees) can rely on retirement income between 3 thousand and 5 thousand euro per month.

40.3% perceive a pension income of less than EUR 1,000 per month, an additional 39.1% from 1,000 to 2,000 Euros; 14.4% receives between 2,000 and 3,000 Euros while the share of those who exceed the 3,000 euro per month is 6.1%.

More than 400 thousand pensioners in less than 3 years
Between 2011 and 2014 pensioners in Italy fell by more than 400 thousand units, from 16,668,000 in 2011 to 16,259,000 in 2014. The figure probably reflects the squeeze on retirement decided by the pension reform Fornero.

Half retired women do not come to a thousand euro
Women account for 52.9% of pensioners receive on average 14,283 euro (20,135 euro against men). Nearly half of retired not get to a thousand euro monthly. In 2014 the retirement income stops before to 49.2% of women. Istat also notes that women with less than a thousand Euros per month more than 4.2 million. Among these can count on less than 500 euro 1.169.000 people.

Retirees are 16.3 million
Old-age pensions account for over two-thirds (70 , 0%) of total pension expenditure; follow those survivors (14.9%) and welfare pensions (8.0%); lower the weight of disability pensions (5.6%) and indemnity (1.6%). The average annual pension is 11,943 Euros, 245 Euros more than in 2013 (+ 2.1%). Retirees are 16,300,000, approximately 134 thousand less than in 2013; on average each receives € 17,040 a year (EUR 403 more than in 2013) given that, in some cases, a single retiree can also count on more than one board.
The 47.7% of pensions and ‘delivered to the North, 20.4% in the Centre and the remaining 31.9% in the South.

Istat: average income new retirees falls of more than 1,000 euro
Not only are falling retirees, and pension expenditure is an increase but instead are falling even average incomes. According to Istat photography, it is less than 1,000 euro per year. Facts and figures, the new retirees (people who started a pension in 2014) are 541,982 and amounted to 675,860 people in 2014 have ceased to be earners (the superseded). The average income of new retirees (13,965 euro) is lower than the outgoing (15,356) and that of surviving pensioners (17,146), that is, those who in 2013 also perceived at least one board. Almost a quarter (23.3%) of pensioners are under 65, half (51.9%) aged between 65 and 79 years and the remaining quarter (24.9%) is 80 years old and more.

Two-thirds of pensioners (66.7%), and finally, they hold only one board, one-quarter (25.4%) perceives two while 7.8% holds at least three pensions .

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