On the draft pension reform, illustrated last Wednesday by the Secretary of State Ciavatta, we also heard the opinion of the Anis which aims to close within the year.
Even industrialists, as well as trade unions, believe that pension reform should be addressed within the framework of a general plan, which includes the other structural reforms necessary for the sustainability of public finances and the development of the country. Having said that “We are available – explains the Secretary Anis, William Vagnini – to think about the draft presented, also because it has been specified that it is an open document“. On the hypothesis, to bring 100 to 103, Vagnini observes that the many postponements of the reform have exacerbated the problem of the sustainability of the funds and “if the patient is more serious, heavier medicine is needed”. “Tkeeping more people in business for longer means paying fewer pensions and collecting more contributions. Even if it is true – goes on – that having an older workforce has possible negative effects”.
One of the proposals that Anis will reiterate in this regard in the next meeting, already scheduled for 29 July, is to reduce the contribution for the ‘family allowances’ and ‘sickness’ funds, which are in surplus, to allocate the difference to pension funds which, without any intervention, are destined to erode the current reserve of 430-450 million in about 10 years (All invested in San Marino banks in low-risk financial products with a maturity of 6/12 months). For Vagnini, the reform, however, cannot fail to concern the second pillar as well. The replacement rate for the new generations must also be improved and it is essential to make the San Marino economy more attractive for investors, especially in innovative sectors. Consequently, employment would increase and the pensioners / workers ratio would return to more acceptable levels: “today – Vagnini points out – it is 1 to 2.2 / 2.3, 10 years ago it was 1 to 4”.
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