Early Retirement in Italy: Recent Trends

The analysis presented provides new statistical information on pensioners receiving seniority retirement benefits and highlights the positive effects of specific factors on their pension income. The statistical estimates suggest that work incentives are weak and steady job exits before the normal retirement age continue, especially for civil servants. In particular, since seniority benefits are based on a long contribution history, their corresponding level of pension income is high. This is not true for pensioners receiving old age benefits because of their incomplete work history.