Italy raises retirement age again: 67 years and 6 months from 2029

Italy is preparing for a further increase in the retirement age, following adjustments linked to life expectancy. According to the latest estimates from Italy's State General Accounting Office, from 1 January 2029, the old-age pension will be granted at 67 years and 6 months — three months later than the threshold set for 2028.

For early retirement, regardless of the employee's age, a contribution period of 43 years and 4 months will be required for men, with one year less for women.

A larger increase than initially estimated

The figures appear in the latest report on the medium- and long-term development of Italy's pension system and take into account changes in life expectancy. The new calculation for 2029 adds three months, compared to just two months as previously estimated, according to the Italian press.

These changes directly affect the many Romanians working in Italy, given that the retirement age has already begun to rise gradually from 2027.

The schedule of increases from 2027 onwards

Currently, the old-age pension in Italy is granted at 67. The schedule of increases is as follows:

• From 2027: the threshold rises to 67 years and one month, and early retirement requires 42 years and 11 months of contributions (men)
• From 2028: the threshold reaches 67 years and three months, and early retirement requires 43 years and one month of contributions (men)
• From 2029 (estimate): 67 years and 6 months for the old-age pension, and 43 years and 4 months of contributions for early retirement (men)

For women, the contribution requirement for early retirement remains, in all cases, one year less than for men.

Lega wants to freeze the increases

The Lega party, led by Matteo Salvini, opposes the automatic raising of the retirement age and pension conditions, and has called for these increases to be halted. So far, the party has succeeded in having the three-month increase originally scheduled for 2027 spread over two years: one additional month from 2027 and a further two months from 2028.

Among Lega's priorities for the upcoming budget law are freezing these increases and enabling retirement at 64, including for those who began working before 1996.

The situation in Romania

In Romania, Law no. 360/2023 sets the standard retirement age at 65 for both men and women. For women, this threshold is being reached gradually, in accordance with the schedule set out in the law, with the effective retirement age rising incrementally until it equals that of men.

The minimum contribution period is 15 years, and the full contribution period is 35 years, for both women and men.