ITALY - The Italian government has laid out a draft law to increase the retirement age of women from 60 to 65 years old.
This would equalise the retirement age by 2018.
Italian women are currently entitled to work until the age of 65 but only on a voluntary basis.
The draft law comes in response to a ruling the European Court of Justice on 13 November 2008 which stated Italy had to abolish the difference in treatment on men and women with regards to retirement age.
Last month, Italian economists Tito Boeri and Agar Brugiavini estimated a complete reform of the retirement age would generate a total €1.5bn (US$1.9bn) in savings by 2020, with a peak of €250m in 2013-2014.
However, the estimate assumed the reform would apply to both public and private sector women workers.
The draft law is currently under discussion in the Italian Senate's commission for European policies, where amendments are being discussed and voted on. It will then be voted on by the Senate in a plenary session.
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There have now been a total of 47 buy-in and buyout deals of over £500m announced since 2007. The full list, provided courtesy of LCP, is as follows...