Abstract

The paper acknowledges the «Fornero's reform» the merit of having restored universal and flexible rules for retirement, not also the one of having reformed the conversion coefficients prescribing they are assigned to each cohorts, according to the protocol followed by all other countries which adopted the notional defined contribution scheme. Coefficients «by cohorts» are necessary to avoid the intra‑generational and inter‑generational unfairness implied by the Italian "erga omnes" ones. The former are also urgent to avoid the unconstitutionality risks faced by the latter. The paper also offers a projection to 2068 for "erga omnes" coefficients as well as the age and seniority requirements for retirement established by the reform.