On pension liabilities in Italy

Abstract

We discuss alternative definitions of pension liabilities and provide estimates for Italy under two of these definitions; the effects on such variables of the 1992 pension reform are considered. We also build and comment on a regional disaggregation of social security wealth (SSW): in particular we find some evidence suggesting that, as a whole, the Italian pension system has reduced the concentration of wealth among regions; if old age pensions alone are considered, this result is reversed.