age: 66 years and seven months. The retirement age will rise gradually based on increases in life expectancy.
Workers first covered before 1996 must have at least 20 years of contributory or deemed coverage, or a combination. However, as few as 15 years of contributory or deemed coverage, or a combination, may apply for workers first covered before 1996 who agree to benefits calculation under an updated formula. For workers first insured on or after January 1, 1996, the notional account balance must be sufficient to provide a pension of at least 1.5 times the monthly old-age social allowance (assegno sociale), or the insured must reach age 70 and seven months and have at least five years of contributions, regardless of the notional account balance.
- any age, with 42 years and 10 months of coverage. Females: any age, with 41 years and 10 months of coverage. Workers first covered on or after January 1, 1996: at age 63 and seven months, with 20 years of coverage, if the calculated benefits are at least 2.8 times the monthly social welfare-based allowance. Early retirement benefits are not subject to any permanent reduction.
NOTE: Except for the self-employed, persons receiving retirement benefits must cease employment.