Overview
- Under existing rules, Italy is in the group of OECD countries where the normal pension age rises to 70 or more, with Italy projected to reach the threshold around 2067 according to the state auditor.
- For people starting work in 2024, the average retirement age across the OECD is projected at 65.9 for women and 66.4 for men, up nearly two years from current retirees.
- OECD demography shows the 65-plus population reaching 52 per 100 working‑age people by 2050, while Italy’s 20–64 population is set to shrink by more than 35% over four decades.
- Public pension outlays in Italy run at about 16% of GDP, with at least a quarter not covered by contributions, placing heavy pressure on public finances.
- The report urges higher effective retirement ages, tighter early‑exit routes, and stronger employment for older workers, noting Italy’s 60–64 employment rate at 47% in 2024, about ten points below the OECD average.