INPS to be 20 billion in the red in 2032 - report

(ANSA) - ROME, JUN 20 - Italy's pensions-and-social-security agency INPS is set to be 20 billion euros in the red in 2032 because of demographic factors leading to a significant decrease in the working population, the CIV Institute said on Monday as it reported to the commission that oversees Italy's social security institutions. CIV President Roberto Ghiselli said the forecast deficit was the result of a "combination of two trends, the increase in longevity and low fertility rates, which cause the so-called inversion in the age pyramid.
    "The positive balance of migratory flows is not sufficient to balance the negative natural dynamics," he continued.
    "The downward demographic trend has already caused a considerable imbalance between the cohorts in, or close to, retirement and those entering the labour market, with a tendency for the active population to shrink". (ANSA).