Rome

Solution proposed for covering Italy's retirees 'in limbo'

Amendment for 'esodati' presented to 'Stability Law' bill

Solution proposed for covering Italy's retirees 'in limbo'

Rome, November 12 - Italian parliament members presented to the House Budget Commission on Monday a way to cover retirees bereft of their pensions by reforms passed in December. The speakers proposed an amendment to the so-called Stability Law, a budget-reform bill currently under discussion in Italian parliament, which has received the approval of the State accounts department. The State accounts department tossed out a bipartisan bill to tackle the same problem in September, on grounds that it did not have sufficient financial cover and potentially compromised ongoing labour reforms. Nine billion euros have been allocated to resolve the issue. The amendment would, among other provisions, set up a sort of 'self-insurance' financed by savings generated through efforts to get the retirees back to work. Last June, the Italian pension agency INPS said 390,200 retired workers were left without a pension due to austerity downsizing measures last year. These so-called 'esodati', or 'exiled', are ex-employees who accepted severance packages ahead of retirement in order to help companies downsize but have not received their benefits. Furthermore, they are ineligible to receive a pension as they opted to quit before the minimum retirement age, which was raised at the start of the year.

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