Rocco Aprile and Aurelio Sidoti present the forecasting model developed by the Italian Ministry of Treasury in order to evaluate the long-term prospects of the pension system. The model is characterised by the effort to consider in detail the legal and institutional framework. In particular, it...

Increasing retirement ages in an automatic or scheduled way with increasing life expectancy at retirement is a popular pension policy response to continuous longevity improvements. The question addressed here is: to what extent is simply adopting this approach likely to fulfill the overall goals...