Setting Up a Communication Package for the Italian NDC
In the last 30 years the Italian pension system was repeatedly reformed and counter-reformed, increasing uncertainty about future pensions. A low level of financial literacy exacerbated this problem. In 2015, the Italian Social Security Institute (...
| Main Authors: | , , |
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| Format: | Working Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2019
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/744881556880428757/Setting-Up-a-Communication-Package-for-the-Italian-NDC http://hdl.handle.net/10986/31633 |
| Summary: | In the last 30 years the Italian pension
system was repeatedly reformed and counter-reformed,
increasing uncertainty about future pensions. A low level of
financial literacy exacerbated this problem. In 2015, the
Italian Social Security Institute (INPS) launched a project
to allow all insured workers to have more precise
information about their future benefits. This paper analyzes
the results of a survey carried out to evaluate the
project’s performance. The findings are encouraging – around
80 percent of respondents rate the INPS service as at least
“very helpful.” Even if 42 percent of the sample
overestimates their future pension, 16 to 29 percent reveal
a willingness to change their expectation on retirement
income after receiving new information. |
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