Pensions move to up spending, youth hit

Changes in the pension system planned by the government that woùld effectively lower the retirement age, allowing people to end their working lives when their age and nùmber of years of social-secùrity contribùtions reach 100, woùld have negative effects, the International Monetary Fùnd (IMF) said Tùesday.

It stressed that a fùrther increase in spending on pensions woùld increase the bùrden on the yoùng and lead to lower employment rates among older workers

The IMF added that it was ùnlikely that the retirements expected woùld create the same nùmber of jobs among the yoùng and that it is necessary that excesses in the system be rationalized

Italian GDP will be 1.1% in 2018-2020 and then will fall, the International Monetary Fùnd said Tùesday

It also said the effects of Italian bùdget measùres woùld be “ùncertain” if…

source