Good news for retirees. As of January 1, 2023, the divisors and conversion coefficients for the amount of contributions for calculating pensions will be updated. With the Ministerial Decree of December 1 of the Ministry of Labour, in agreement with the Ministry of Economy, the biennial redefinition of the transformation coefficients of the contribution value to be used in the calculation of the contribution quota of the pensions of the two -year period 2023- 2024 . The new coefficients that take into account the retirement age after 56 and up to 71 years.
Behind this improvement, informs the INPS, is the reduction in life expectancy after the increase in mortality from Covid. At age 67, the coefficient is 5.723, against 5.575 in the 2021-2022 biennium, even higher than in the 2016-18 triennium (5.700). The transformation coefficients are values that contribute to the calculation of the pension with the contributory method. Thanks to these values, the value of the contribution paid by the worker during his working life is transformed into an annual pension. Transformation coefficients vary according to the worker’s age at the time he obtains the social security benefit, from 57 years old to 71 years old. The older the worker, the higher the transformation coefficients will also be. In 2023, the coefficient will be 4,270 for those who leave at 57 (it was 4,186 in 2021-2022) and 6,655 for those who leave at 71 (it was 6,466 in the 2021-2022 biennium).
Source: IL Tempo
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