Abstract

The «pension package» included in the 2017 Stability Law includes several measures which mark discontinuity vis à vis the austerity driven reforms of the period 2009-11. The new measures only expand old age expenditure, but they are also apparently innovative in their design and goals. By relying on the equity principle and promoting redistribution, the new reform actually aims at tackling the most severe social consequences produced by the combination of previous interventions with prolonged economic stagnation. The article assesses to what extent adopted measures may be considered effective, and may represent a first step towards the construction of a sustainable, adequate, and equitable pension system in Italy.