Pensions: The Main Changes Introduced by the 2026 Budget Law (Sintesi, June 3, 2026– Andrea Di Nino and Giorgia Tosoni)

As is well known, Law No. 199 of 30 December 2025 (the “2026 Budget Law”) introduced a comprehensive set of changes to Italy’s pension system. These measures range from the reinstatement of the adjustment of pension eligibility requirements in line with life expectancy, to the extension of schemes such as the Social APE (Advance Pension Benefit) and the Incentive for Deferring Retirement, as well as the repeal of certain early retirement options.

Adjustment of pension requirements in line with life expectancy

Undoubtedly, among the most anticipated measures was the increase in the age and contribution requirements needed to access the various pension schemes, whose periodic adjustment in line with the life expectancy trends recorded by ISTAT had been reinstated after years of having the requirements “frozen”.

In this regard, the Ministry of Economy and Finance (MEF) Decree of 19 December 2025 provided that, as of 1 January 2027, pension eligibility requirements would increase by three months. The 2026 Budget Law mitigated the impact of this measure by introducing, under paragraph 185 of Article 1, a gradual mechanism through which this increase will be effectively applied: one month from 2027 and the remaining two months from 1 January 2028.

Finally, INPS Circular No. 28 of 16 March provided a comprehensive and structured overview of the practical implications of the combined provisions above on the various pension schemes. In practice, access to the main pension benefits in the next two-year period (2027–2028) will proceed as follows.

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