Pension at 65.8 for men, 64.1 for women: how is this possible?

Pension at 65.8 for men, 64.1 for women: how is this possible?
Pension at 65.8 for men, 64.1 for women: how is this possible?

As it is known, in Italy you retire at the age of 67. Or rather, this is the expected age for access to the old age pension with 20 years of contributions. It is not said, in fact, that one must necessarily wait until the age of 67 to retire; so much so that there are few who do it.

As confirmed by the report of the European CommissionPension Adequacy Report 2021“, indeed, in Italy you retire before the age of 67. In detail, on average men go there at the age of 65.8 years, give it to 64,1.

How is it possible? This lowering of the retirement age demonstrates that that is already there in our pension system flexibility much requested by the social partners. There are, in fact, several measures that allow access to retirement in any case before the age of 67 and more and more men and women are resorting to it so as to reduce the effective retirement age to 65 years and 8 months for workers and to 64 years and 1 month. for female workers.

Effective pension for men and women: stop working before the age of 67

Despite the Fornero Law of 2011 intervened to equalize the retirement age for men and women, bringing it to 67 for both, there are still differences between these two categories. This is demonstrated by the fact that if we look at the effective – average – age of retirements in Italy, we have men retiring a 65 years and 8 months, the women a 64 years and 1 month.

The first measure of flexibility as well as the most used as an alternative to the old-age pension, it is the early retirement, which precisely provides for different requirements for men and women. In detail, this allows the person to retire regardless of age, as it only looks at the contributions accrued which must be:

  • 42 years and 10 months for men;
  • 41 years and 10 months for women.

It is therefore enough to have started working between the ages of 23 and 24, and have maintained a career without interruptions, to be able to go widely in retirement before the age of 67.

And it is not the only measure that allows it. For the so-called precocious workers, that is, for those who started working very early maturing 12 months of contributions before the age of 19, there is in fact the possibility of accessing the pension with only 41 years of contributions. The so-called Quota 41 precocious, however, is reserved for certain categories of people, such as the unemployed, the disabled, caregivers, and heavy and heavy workers.

But the difference between men and women is not only due to early retirement. For female workers, in fact, still today there is the possibility of accessing the pension with 58 years of age (59 years for self-employed women) and with 35 years of contributions thanks to the Woman Option (which however requires a contribution recalculation of the check for those who access it).

It allows you to retire earlier, thus contributing to the lowering of the average age for effective retirements in Italy, including the contributory early pension, reserved for those who started working after January 1, 1996. This provides for retirement at the age of 64 years and with 20 years of contributions, provided that the accrued allowance is greater than 2.8 times the amount of the social allowance.

And again: in recent years it has contributed to reducing the effective retirement age, bringing it to 65.8 years for men and 64.1 years for women, also Quota 100, with which to retire already atage of 62 (and with 38 years of contributions). As is known, however, this will disappear from 1 January 2022, allowing access only to those who meet the requirements by next 31 December.

Anticipating retirement in Italy: INPS data

In confirmation of what is indicated by the “Pension Adequacy Report 2021”Of the European Commission, which tells us that in Italy we generally go first in retirement compared to 67 years required by the old-age pension, there are INPS data referring to 2020.

These tell us that last year the Institute paid out more 234,000 early pensions respect to 195,000 old-age allowances. There is a massive trend, therefore, to the use of the aforementioned channels for early retirement, so much so that on average people retire between 64.1 years (women) and 65.8 years (men).

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