ITALY - The International Monetary Fund (IMF) has urged the Italian government to implement further pension reforms in order to shore up the country's fiscal framework.
It added this could allow for faster debt reduction and/or freeing resources to strengthen Italy's weak social safety net.
Earlier this January, Italian welfare minister Maurizio Sacconi said in a speech before the parliamentary committee on labour and social affairs the government would soon submit a proposal to equalise the retirement age of men and women, firstly targeting the public sector.
The minister added the European Court of Justice urged Italy to adjust the coefficients used for the calculations of retirement age. He said the adjustment would take place from January 2010.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.
The FCA and TPR have announced their joint strategy for tackling the key risks facing pensions in the next decade. Victoria Ticha explores the plan and the industry's initial reaction.