pensioni

Pensions are regular payments intended to replace a portion of income after retirement. They are provided through public social security schemes, private pension plans, or a combination of both, and may include disability or survivor benefits.

Public pension systems are typically funded by payroll taxes or general revenues and may operate on contributory or non-contributory principles. Contributory schemes rely on workers' paid contributions over their careers, while pay-as-you-go systems current workers' contributions fund current retirees. Benefit levels generally depend on contributions, earnings history, and years of service, with retirement age set by law.

Private and occupational pensions are usually funded and managed by employers, individuals, or financial institutions. They can be defined benefit plans, where benefits are determined by salary history and years of service; or defined contribution plans, where benefits depend on accumulated contributions and investment performance.

Eligibility and calculation vary by country and scheme. Some systems allow early retirement with actuarial reductions; others set a fixed statutory retirement age. Benefits are often indexed to price or wage growth to maintain purchasing power.

Challenges facing pension systems include aging populations, increasing life expectancy, and economic pressures. Policy responses include raising retirement ages, reforming benefit formulas, adjusting contribution rates, or expanding funded pillars alongside pay-as-you-go schemes.