Early retirement: here’s how to get it

Possible options for leaving work before the age of 67

Ansa / CorriereTv

Pending a structural pension reform, for those who want to retire before the age of 67 there are several options, here are which: The main exit established by the Fornero reform is the old-age pension: until 2022 it requires 67 years of age and 20 of contributions. The Fornero reform had also introduced an “early” contributory seniority pension, which was later repealed, which reduced the allowance for workers under 62 years of age. The penalty was repealed and the contribution requirements frozen until 2026. The contribution requirement is equal to 41 years and 10 months of contributions for women, 42 years and 10 months for men with no difference between public, private or self-employed employees. There is a window of 3 months from the maturity of the contribution requirement, also achieved by adding the contributions of all the INPS management and professional funds. Only for workers with Inps contributions after 1995, a pension is active that reaches 64 years of age, with 20 years of contributions and a pension threshold value currently equal to approximately 1290 euros gross per month. From 2019 to 2021 the pension with “Quota 100” was introduced experimentally: by 2021 it required an age of 62 and a contribution of 38 years (adding together the Inps management, but not the professional funds). The window for private workers, employees or self-employed, is equal to 3 months, 6 for public employment only. There is no penalty, but a prohibition of accumulation of income until the retirement pension is reached (except for the 5,000 euros gross per year for occasional self-employment). There is a pension for “precocious”: regardless of age, for those who worked before the age of 19 for at least 12 effective months, even if not continuous. The contribution requirement is 41 years, frozen until 2026 and has a window of 3 months. Also in this case the incumulability of the incomes is foreseen. Inps certification is required to be requested by November 30 of each year. The 2021 Budget Law also extended the Woman Option: 58 years of age (one year more for self-employed women) and 35 years of effective contributions by 21/12/2020. The waiting windows are one year for employees, plus 6 months for self-employed women. Isopension is an early retirement that can be activated by companies with more than 15 workers, which bears the costs. The maximum duration of the exodus is 7 years, until the start of the old-age pension or early retirement pension in the case of redundancies placed by 30 November 2023. From 2024 it will be 4 years. The allowance has a value equal to the pension accrued at the time of leaving, with contributions calculated on the average salaries of the last 48 months. The isopension can be combined with any income from employment and self-employment.

June 9, 2021 – Updated June 9, 2021, 4:07 pm




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