What are the statutory pension benefits in Italy?

The statutory pension benefits in Italy consist of a national defined contribution (NDC) program. To qualify for an NDC, an employee must meet the following criteria:

• The employee needs to have reached the normal retirement age of 67.
• The employee must have at least 20 years of contributions.

Early retirement options in Italy are available under specific conditions:

• At any age with at least 42 years and 10 months of contributions for men, or 41 years and 10 months of contributions for women.
• For individuals first insured on or after January 1, 1996, early retirement is possible at the age of 64 with at least 20 years of contributions if the insured's national account balance is sufficient to provide a monthly pension above a certain amount.