On TV we often hear about the fact that younger generations will have in retirement pensions paid contributions ... but that 'you do not hear is that all pensions will be hungry. There is talk of supplementary pension funds as if it were manna from heaven, the only possible solution and solved the Social Security for younger generations.
I have the impression that the solution proposed by large sections of society is far from satisfactory and indicates a short-sighted vision for the future of Italy.
First, In proposing the above answer, does not take into account the fact that the average return of the money has gone down significantly in recent decades and probably in the future will tend to drop more. In addition, contributions to a national average pay in a year to INPS is in constant decline for the emergence of increasingly precarious forms of contract and because 'the macroeconomic trends in the future require that every citizen can incur more and more often during periods of unemployment and increase the total number of unemployed. Furthermore, wages are always lower and close to mere personal needs. E 'likely that the European economy and even more so than Italian (for structural reasons) will be in a decline over the coming years more and more significant for the emergence, in an increasingly vigorous, Asian economies which represent the bulk of the world needs.
I'm not an expert in financial mathematics, but I tried to do the same math to figure out what makes a monthly payment figure x for a number of n years with annual interest rate and inflation p ( assumed constant Nelg n years) f .
I made this formula to calculate the monthly pension that I will have 'n years:
m = x * ((p +1) ^ (n +1) -1) / (p * n)
This value
but 'will have' a lower real value due to inflation, so
r = m / ((f +1) ^ n)
If I put p = 4%, f = 3%, n = 35 you get to a pension r (real value) of less than x .
If you consider the fact that the monthly payment x paid into the pension fund annual increases for inflation f, we get a different formula to calculate:
w = x * ((f + 1) )*((( p ^ n +1) / (f +1)) ^ (n +1) -1) / ((pf) * n / (f +1))
where w is the monthly pension received after n year considering its equivalent n after years of inflation. If I put
p = 4%, f = 3%, n = 35 you get to a pension w (actual value) of just over x: x-value around 100 € you get about 130 €.
I gave a look also equivalent to the coefficients that give the Italian Post Office and other banking institutions are similar to those calculated on the contrary actually slightly lower because there are also costs of maintenance and management of the fund.
In any case, reach in my opinion to a single conclusion .... the supplementary pension is miserable entity and shall not in any way meet the basic needs of an average citizen, let alone integrate satisfactorily miserissima already a state pension.
These observations lead me to be even more convinced of my old belief: we must rethink the one meaning of retirement. The state board is intended to ensure a minimum level of subsistence of those people that has proved unable to work because the old (or disabled or mentally ill), fail to perceive an auton gross earnings above the minimum of subsistence, they 'possess assets properties they can sell them financial returns such that they can live independently. Since each of us can unfortunately be in that situation it is right that the community take charge of this social burden to redistribute some of their wealth to those who need it.
E 'fitting then that should receive a state pension only those who need it and not all without distinction as it is now. It makes no sense to give a pension to rich industrialists who can live on a pension. It 'makes sense to give a pension to someone who has invested considerable capital in all its real estate but does not appear to have no liquidity.
Only in this way, in my opinion, can ensure a decent retirement for all of us young people: the only factor by which the pension can only be derived social justice. E 'unutile illusion that raising the retirement age, contributions and pensions by introducing a solution to the problem of pensions for the younger generation because all of these solutions suffer from the same problem: the low yield of the money accumulated in the fund is not sufficient to ensure a dignified life for a human being who is no longer able to get it yourself.
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