Birth rate / ‘Newborn allowance’, 100 euros a year paid by the State

To promote saving and pension provision amongst young people and to encourage the establishment of a long-term savings account from birth, a fund called ‘Valore nuovi nati’ will be set up from 1 January 2027 for those born on or after 1 January 2027. Newborns will thus be allocated an individual savings account, into which an annual state contribution of 100 euros will be paid until they reach the age of majority (1,800 euros in total); this may be supplemented by contributions from family members. Contributions made by parents, relatives and in-laws, up to the beneficiary’s 18th birthday, up to a maximum of 1,000 euros per year, are 19 per cent tax-deductible against personal income tax (IRPEF).