62 and 65?? What was the retirement age before these so-called “reforms”?
The Italian government adopted a progressive increase in the legal age of retirement for private and public employees as of 2015. According to the National Pensions Institute (Istituto Nazionale Previdenza Sociale - INPS), the increase in age will be at least 3 years by 2050 and will be tied to life expectancy.
Italy's pension system allows for several retirement options. By 2050 the retirement age for all civil servants and for male private-sector workers will rise from 65 to 68 years and 4 months; the retirement age for female private-sector workers will rise from 60 to 63 years and 5 months. While those who have contributed for at least 35 years can currently retire at age 62, this will rise to 65 years and four months by 2050; those with more than 40 years of contributions will be able to retire regardless of age.
The current reforms were included in a package of budget cuts presented by the government, building on broad outlines approved in summer 2009, and were approved without much resistance from the opposition or unions. It is estimated that these modifications will amount to EUR 86.9 billion in savings from now until 2050.
In a separate decision in June 2010 at the behest of the European Union, the Italian government raised the retirement age of female civil servants from age 60 to 65 starting in 2012, so that it will match that of their male counterparts by 2018.