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Italy: average gross pension value 2011-2016

Annual average gross pension value in Italy from 2011 to 2016 (in euros)

by Statista Research Department, last edited Aug 9, 2019
Italy: average gross pension value 2011-2016 In 2016, the average annual gross pension in Italy amounted to 12.3 thousand euros per recipient. The average pension in the country grew steadily during the period, and experienced an increase of almost ten percent since 2011, when it amounted to 11.2 thousand euros.
An expensive social security system

A social security system is meant to help individuals and families deal with unexpected accidents and losses, invest in health and education and protect the elderly. The Italian social security system is public and based on compulsory contributions made by taxpayers and managed by the State. Depending on several factors, ranging from the average age of retirement to the generosity of the benefits paid, social security can be very costly for the State. In 2016, in Italy there were over 16 million pensioners (654677), defined as an individual who receives at least one type of pension benefit (806281), and the public expenditure for pensions reached over 280 billion euros, which amounted to approximately 17 percent of the Country’s GDP.

The increasing popularity of pension funds

Alongside the public social security system, pension funds based on voluntary contributions by private members can provide a safety net for those who want to receive a supplementary benefit. Despite being far from reaching the values registered in other countries such as the United Kingdom, the Netherlands and Germany in terms of assets, the popularity of pension funds is growing in Italy. In fact, the value of voluntary pension funds’ contributions in Italy increased from 6.8 billion euros in 2007 to 10.4 billion euros in 2017.
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Annual average gross pension value in Italy from 2011 to 2016 (in euros)

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