Pensions in the 2025 Manoeuvre: everything you need to know about revaluations, extensions and Maroni bonus relief

A mini-revaluation of minimum pensions and no re-edition of the 'silence assent' for the severance pay. These are some of the novelties in the pension chapter of the manoeuvre that was sent to Parliament after the seal of the Head of State. For cheques equal to or less than the minimum amount there will be an increase, due to equalisation, of 2.2 per cent in 2025 (it is 2.7 per cent in 2024), bringing the amount of the cheque to around EUR 617 from the current EUR 614.77, and 1.3 per cent in 2026. The one-year extension of Quota 103 in a 'contributory' version, of Ape sociale and of Opzione Donna in a 'selective' format is confirmed. The so-called Maroni bonus for those who meet the requirements for Quota 103, which also becomes usable for early retirement with 42 years and 10 months of contributions (41 and 10 months for women), is de-taxed, and the possibility is envisaged for public employees to remain at work, in agreement with the administration to which they belong, beyond the current retirement limit, even up to the age of 70. There is a tightening of indexation only on the treatments of pensioners abroad, while for other pensioners there is a return to the more 'extensive' and favourable mechanism of Law no. 388/200 and subsequent amendments. For fully contributory workers (those who have been active since 1996) there is finally the 'competition' of any pension fund income to reach the threshold of the social allowance, a requisite for retirement with 67 years of age and at least 20 years of contributions.

The draft budget law envisages that for pensions at or below the minimum wage the revaluation will be 2.2 per cent in 2025 and 1.3 per cent in 2026. In 2024, the indexation to inflation of these treatments has been set at 2.7 per cent. The adjustment will therefore be smaller than this year's and should bring the cheque to EUR 617.9 per month, about EUR 3 more than the current EUR 614.77. However, the government is keen to emphasise that in any case 'minimum pensions will not be reduced, which would have happened without this intervention in the manoeuvre'. In the absence of the measures included in the current budget bill, the 'minimums' would in fact have fallen in 2025 from the current EUR 614 a month to EUR 604. The planned increase of 2.2 per cent thus takes account of inflation at 1 per cent.

On the exit flexibility front, the manoeuvre extends Quota 103 'contributory', Ape sociale and Opzione donna. Next year, too, it will therefore be possible to leave work early with at least 62 years of age and 41 years of contributions, but with the contribution-based recalculation of benefits.

In the end, the new 'silence of consent' phase for allocating the severance pay fund to supplementary pensions was not included in the final text of the manoeuvre. It is not excluded that the issue may be addressed during the parliamentary navigation of the manoeuvre. Which in any case envisages some sort of help for fully contributory workers (those who have been active since 1996) from 'supplementary' forms. In order to reach the threshold of the social allowance, which is necessary to access retirement with 67 years of age and at least 20 years of contributions, these workers will be able to use any income from the integrative pension.

For pensioners abroad there will be a squeeze on revaluations, which will not be paid in the event that pensions are overall higher than the Inps minimum. For other pensioners from 2025 the mechanism in force this year (divided into six 'levels'), which envisages progressive cuts in indexation on treatments exceeding four times the minimum, will cease. From next year there should be a return to the mechanism introduced by Law no. 388/2000, and subsequent amendments, based on three levels only: 100% adjustment to inflation for pensions up to four times the minimum, 90% for those between four and five times the minimum, and 75% for pensions above the minimum.