ITALY - Lower house speaker and former head of the Partito della Rifondazione Comunista (Communist Refoundation Party), Fausto Bertinotti, said yesterday the discussion on pensions "could be the occasion for... an important political debate".
Asked by the media to comment on economy minister Tommaso Padoa Schioppa's setting in motion of a structural reform of the pensions system, Bertinotti said the debate should include "unions, enterprises, young people with open-ended contracts, and associations in open dialogue in the country".
It was announced in October that the government and social partners had signed an agreement that would see around €5bn from company final indemnity funds transferred to the national institute of social welfare (INPS) as of 1 January, 2007.
An agreement signed between the government, the Italian trade unions Confindustria, Cgil, Cisl and Uil will see the launch of the complementary pensions sector brought forward by a year, with the aim of stimulating the DC sector by encouraging workers to transfer their final indemnity payments - Trattamento Fine Rapport/TFR - to pension funds.
Schioppa confirmed at the time that companies losing TFR funds would be able to draw on a compensation fund to be set up from the start of next year.
Businesses are experiencing auto-enrolment data error rates of up to 50%, posing questions over the reliability of pension records, Pensionsync says.
A nationwide survey of committee and local pension board members of the Local Government Pension Scheme has revealed high levels of confidence in all areas of their responsibility.
UK inflation unexpectedly rose to 2.7% in August, beating analysts' expectations of a drop to 2.4% from 2.5% the previous month.