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Here is the precise map on pension cuts

8 months ago babelfish

Here is the precise map on pension cuts

Protection of INPS pensions: mumbling in progress. The speech by Michele Poerio, general secretary of Confedir and national president of Feder.s.pev, and Stefano Biasioli, secretary of Feder.s.pev. and Aps secretary Leonidas

In recent days, the spiel about the economic holes left by previous governments has continued. Minister Giorgetti continues to complain, saying that – due to Conte and Draghi – the 2024 budget law will be full of cuts, made left and right: ministries, health care, existing pensions and future pensions.

There are crowds of public pensioners (paid by INPS) who don't seem to care about the cuts they will suffer once they retire. As far as current INPS pensioners are concerned, it is especially surprising that around 1.6 million pensioners have not realized that they have been damaged for 17 of the last 21 years and that they will be further extorted from 2023 to 2032.

An economic massacre, which goes far beyond that envisaged by the 2022 financial law for 2023 and which has no counterpart in any other European country.

The attached tables summarize the cuts for 2023 and 2024 in detail. But we are in a position to specify, to the hundredth, the damage that these pensioners (1.6 million) will suffer over the next decade. This is irreversible damage which will permanently penalize the holders of these pensions and their widows or widowers. For 23 years "pension funds" have been wasted on "welfare gifts", which should not have been charged to the INPS budget but to the state budget. For transparency and for accounting correctness, also towards Europe. Cuts upon cuts. Is anyone moving or has they moved?

Without any pity, let's say that the large confederations have done nothing – so far – to protect its pensioners with pensions from 5 to 8 and several times the INPS minimum. But other large autonomous confederations have also done little so far: warning INPS (!!!???) and activation of 4 or 5 lawsuits (typical), in Lazio, Lombardy, Piedmont. Suing who? The Courts of Accounts (for the public) and the courts (for the private). Thousands of subscribers, but little activity, for a few individual cases.

Again, others have become much more active. First of all Confedir, Feder.s.pev. and the Aps-Leonida, which have activated a series of appeals to the courts of accounts of Venice, Trieste, Trento and Bolzano… appeals that will be discussed in January 2024. Who are the appeals against? Against the Presidency of the Council of Ministers, against the Ministry of Economy ( Mef ), against the Ministry of Labour, against INPS.

Up to now, there are hundreds of applicants: for each of them, the individual damage in the two-year period 2023-2024 and the hypothetical one in the decade 2023-2032 (actuarial calculation) have been quantified (to the hundredth).

In September, Confedir, Feder.s.pev. and Aps Leonidas will activate other legal actions, with hundreds of other plaintiffs, in Lombardy, Lazio and Sicily. These are the facts. The full text of the appeal is available on the Aps Leonida and Confedir websites, in favor of INPS pensioners in the Triveneto area.

The appeal is the result of Prof. Paolo Piva, professor in Padua, but the tables are the result of the joint work of dr. Mencarelli and Prof. Buratto (actuarial). Let's hope that, this time, the magistrates will address the issue of INPS pension cuts with some awareness: that these cuts will affect them too, once they retire; that the repeated cuts take the form of taxes that affect only a few (1.6 million taxpayers, out of the 19 million people who pay taxes and 49 million Italians); that INPS pension taxation is the highest in Europe.

Finally: how many Italians do not vote? And how many of these 1.6 million will vote if no party takes on the problem?

INPS pensions

LEGEND OF THE PROSPECTUS

1. The prospectus intends to summarize, displaying them: a. the percentages of revaluation of pensions exceeding 10 times the minimum/TM treatment (€ 525.38 per month) in the two-year period 2023/2024: pensions which have been recognized as an increase in the entire monthly pension equal to 32% of the inflation rate = 2.336 % (32% x 7.3%); b. the percentage losses of the same pensions in the two-year period 2023/2024; in the hypothesis of full compliance and full application of the provisions of the 2023 Budget Law.

2. The inflation rate for 2023: a) was provisionally established at 7.3% by Minister Giorgetti last November. b) will be definitively established at 8.1% again by Minister Giorgetti next November.

3. Therefore, the INPS, with the slip for the next month of January 2024, will make the adjustment for the year 2023 following the 0.8% increase in the inflation rate (8.1% minus 7.3%), crediting to the pensions in question an extra 0.256% per month (2.592% minus 2.336%) and for thirteen months calculated on the amount of the monthly pension in use.

4. The inflation rate for 2024 is currently forecast – again on a provisional basis – at 5.7%. This means that the provisional increase of 1.824% (32% x 5.7%) will be recognized for the pensions in question.

5. If so, pensions exceeding 10 times the TM will benefit from an overall revaluation of 4.416% in the two-year period 2023/2024, against a full inflation rate of 13.8% (8.1% + 5.7% ).

6. The final scheme assumes a comparison with the revaluation envisaged and recognized by the Draghi Government in 2022 (ordinary method of the three bands – 100%-90%-75% – pursuant to Law 388/2000), a revaluation which ensured an overall increase equal to approximately 78% of the inflation rate established for the aforementioned year 2022.

7. This ordinary revaluation method would have ensured – if applied in the two-year period 2023/2024 – an overall percentage increase of 10.764% (78% x 13.8% of the two-year inflation rate).

8. The comparison between the two methods, the ordinary one of Draghi and the one actually recognized by the Meloni government, shows a loss of 6.348% in the two-year period 2023/2024.

9. Recent news from the press suggests that the Meloni Government will disregard the provisions of the 2023 Budget Law for the year 2024, significantly worsening the already penalizing revaluation percentages of 2023, with the probable intention of recognizing no revaluation for pensions exceeding 4 times the TM.

10. If this occurs, the LOSS for pensions exceeding 10 times the TM will increase from 6.348% to 8.172%.

11. In this regard, it must be pointed out that from 2014 to 2022 (ie in eight years) the overall inflation rate was 4.89%, with an annual average of 0.61%! Any comment seems superfluous, given that in the two-year period 2023/2024 alone inflation is almost triple!

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/tagli-pensioni/ on Thu, 07 Sep 2023 05:34:11 +0000.