“It will be a complex budget law: Minister Giancarlo Giorgetti was called yesterday at the Rimini Meeting to set priorities. We can’t do everything, we will definitely have to intervene in favor of middle-low incomers, but it also has to stimulate growth”. The minister then intervened in a possible pension reform and stabilization pact: “No reform will work with this falling birth rate,” he said, and then demanded that “investments be treated favorably and better than current spending”.
In 2024, from next January, people will therefore continue to retire on current terms, on familiar terms: 67 years for old-age pension or 42 years 10 months premium for early retirement (one less for women). . The League will have to leave their 41st Quota dry, hoping to extend their Quota of at least 103 (62 years and 41 contributions) along with the Social Bee and weakened Female Option.
Forza Italia will by no means meet Berlusconi’s “impossible” goal of raising minimum controls to the thousand euro threshold. At most, it will aim to confirm 600 euros for those over 75, which expires at the end of the year, and even doing so will require a lot of resources: the renewal package alone is worth one and a half billion. Therefore, there will not be a revolution in social security promised by the centre-right in the election campaign that preceded past policies: it was a doubt, now for sure.
How does Quota 103 work?
The quota of 103 allows access to a pension if the sum between age and year of contribution yields the indicated number as a result, in this case 103. Usually, minimum requirements for quotas are set for both age and bonuses: and this is also the case in this case, because Quota 103 requires 62 years and at least 41 years of premium. However, restrictions are provided to “deter” leaving: the pension cannot be combined with income from work, at least until the necessary conditions for old-age pension have accrued, therefore, until the age of 67; Those who retire with Quota 103 by age 67 cannot receive checks more than 5 times the minimum INPS treatment. Considering that this equates to 567.94 euros in 2023, the monthly ceiling that should not be exceeded corresponds to 2,839.70 euros. There are also sliding windows that delay the effective date of the pension based on the date the requirements are accrued: for those working in the private sector, the first pension installment is paid 3 months after the requirements are accrued; For public employees, the months are 6 months.
However, the rule states that in order to be able to retire with Quota 103, you must have met the requirements within the current year. It applies to both premiums and age: this means that today this possibility is reserved for those born in 1961, although some details about this may change if the measure is extended; for 2024.
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Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
