Last updated: 29 October 2026 · Written by the Peoitaly team, Employer of Record and payroll specialists in Italy.
Key takeaways
- Short answer: there is no fixed pension in Italy. The monthly amount depends on the contributions paid during your working life. If a pension falls below the legal minimum, INPS can top it up to €611.85 a month in 2026 (€7,954.05 a year, paid over 13 instalments).
- The retirement age is 67 in 2026, with at least 20 years of contributions. It rises to 67 and 1 month in 2027 and 67 and 3 months in 2028.
- You can retire earlier at any age with about 42 years and 10 months of contributions (41 years and 10 months for women) in 2026.
- Pensions are revalued every year for inflation: +1.4% provisionally for 2026.
- For employers, pensions are a payroll cost: about 33% of gross pay goes to INPS, of which roughly 23.81% is paid by the employer.
The Italian pension system is run mainly by INPS, the national social security institute. Workers and employers pay contributions throughout a working life, and those contributions determine the pension. This guide covers the figures people search for most: how much the pension is per month, the minimum pension, the retirement age, early retirement and the rules for foreigners. All amounts are for 2026.
How much is the pension in Italy per month?
There is no single state pension amount in Italy. For anyone who started working after 1995, the pension is calculated with the contributory method (sistema contributivo):
- Every year, the contributions paid on your salary (33% of gross pay for most employees) are added to a personal account, the montante contributivo.
- The account is revalued each year in line with Italy’s GDP growth.
- At retirement, the total is multiplied by a conversion coefficient that grows with your age: the later you retire, the higher the yearly pension.
Workers with contributions before 1996 receive a mixed calculation, partly based on earnings (sistema retributivo). In practice, the pension mainly depends on how many years you contributed, how much you earned and the age at which you retire. INPS shows each worker’s contribution record and a pension estimate in the My INPS online area.
Pensions are paid in 13 monthly instalments a year, the thirteenth in December, and are revalued every January for inflation. For 2026 the provisional revaluation is +1.4%, applied in full to pensions up to four times the minimum, at 90% between four and five times, and at 75% above that. Source: INPS circular no. 153 of 19 December 2025
What is the minimum pension in Italy in 2026?
If the pension calculated on contributions falls below the legal minimum (trattamento minimo), INPS can top it up when the income conditions are met.
| 2026 amount | Monthly | Yearly (13 instalments) |
|---|---|---|
| Minimum pension (trattamento minimo) | €611.85 | €7,954.05 |
| Minimum pension with the 2026 extra increase (+1.3%) | €619.80 | — |
The extra increase of 1.3% applies in 2026 to pensions equal to or below the minimum. These amounts are provisional and may be adjusted by INPS. Source: INPS circular no. 153/2025, paragraphs 2 and 3.2
People aged 67 or over with no pension, or a very low income, may instead receive the social allowance (assegno sociale), a means-tested benefit for residents. The age requirement is 67 until 31 December 2026.
How much is the pension in Italy for a couple?
Italy has no joint pension for couples. Each partner receives their own pension, based on their own contributions. If both partners receive the minimum pension, their combined gross income is about €1,223.70 a month (2 × €611.85).
The couple’s situation matters for means-tested benefits: the top-up to the minimum and the social allowance take into account the spouse’s income as well as the pensioner’s own. A survivor pension may also be paid to the spouse when a pensioner dies (see below).
Hiring in Italy? We register employees with INPS, run payroll and pay contributions every month.
Talk to PeoitalyWhat is the retirement age in Italy?
The ordinary old-age pension (pensione di vecchiaia) requires reaching the legal age and at least 20 years of contributions. The age is linked to life expectancy and will increase gradually from 2027.
| Year | Old-age pension | Early pension, men | Early pension, women |
|---|---|---|---|
| 2026 | 67 years | 42 years 10 months of contributions | 41 years 10 months |
| 2027 | 67 years 1 month | 42 years 11 months | 41 years 11 months |
| 2028 | 67 years 3 months | 43 years 1 month | 42 years 1 month |
Sources: INPS circular no. 153/2025 (age 67 in 2026); INPS, updated requirements for 2027 and 2028; INPS circular no. 28 of 16 March 2026
Can you retire early in Italy?
Yes. There are two main routes:
- Early pension (pensione anticipata): available at any age once you reach the contribution years shown in the table above.
- Contributory early pension: for people first insured after 1 January 1996, from age 64 (64 and 1 month from 2027) with 20 years of actual contributions, provided the pension is at least 3 times the monthly social allowance. The threshold falls to 2.8 times for mothers with one child and 2.6 times for mothers with two or more.
Retiring later increases the pension: under the contributory method, each extra year raises the conversion coefficient.
Can foreigners get an Italian pension?
Yes. Contributions paid in Italy count towards an Italian pension whatever the worker’s nationality, and they stay on the worker’s INPS record after they leave Italy. Three points matter for international workers:
- EU, EEA and Switzerland: periods worked in different countries are added together (totalisation) to meet the minimum requirements. Each country then pays its own share of the pension.
- Countries with a social security agreement with Italy: similar totalisation rules can apply, depending on the agreement.
- Payment abroad: INPS can pay the pension to a bank account outside Italy.
Moving to Italy for work also brings tax questions. Qualifying workers may benefit from the regime impatriati income tax relief.
How does the Italian pension system work?
The system rests on two pillars.
1. Public pension (INPS)
Contributions to INPS are mandatory. For most private-sector employees, the total rate (IVS) is 33% of gross pay: about 23.81% paid by the employer and 9.19% by the employee.
2. Supplementary pension (optional)
Supplementary pensions (previdenza complementare) are voluntary and come in three forms:
- Closed pension funds (fondi pensione negoziali): set up by collective agreements and reserved for the workers those agreements cover.
- Open pension funds (fondi pensione aperti): open to anyone, whatever their job or collective agreement.
- Individual pension plans (PIP): insurance-based plans offered by insurance companies, also open to anyone.
Pension funds are supervised by COVIP, which requires each fund to publish its investment policy and risk profile. From 2026, new hires are automatically enrolled in a pension fund unless they opt out: see our guide to automatic pension enrolment and TFR.
Severance pay (TFR)
Alongside the pension, every employee accrues TFR (trattamento di fine rapporto). Each year the employer sets aside the annual pay divided by 13.5 (about 7.41%), less a 0.50% contribution: in practice about 6.91% of annual pay. The accrued amount is revalued every year at 1.5% plus 75% of the ISTAT inflation index, and is paid as a lump sum when the employment ends, or directed to a pension fund. More in our guide to TFR in Italy.
Disability, survivor and social pensions
- Disability pension (pensione di inabilità): for workers who are totally and permanently unable to work, as certified medically, with at least five years of contributions, three of them in the last five years.
- Survivor pension (pensione ai superstiti): paid to the spouse or civil partner, children and, in some cases, other dependent relatives when a worker or pensioner dies. If the deceased was still working, they must have had at least five years of contributions (three in the last five years) or fifteen years in total.
- Social allowance (assegno sociale): a means-tested benefit for residents aged 67 or over with low or no income.
How are pensions and contributions taxed?
Pensions are taxed as income under the ordinary Italian income tax rules (IRPEF). Mandatory INPS contributions paid by the employee reduce taxable income. Contributions to supplementary pension funds, paid by the employee and the employer, are deductible up to €5,300 a year from the 2026 tax year (€5,164.57 until 2025). TFR paid into a fund does not count towards this limit. Source: Law no. 199 of 30 December 2025 (Budget Law 2026), amending Legislative Decree 252/2005
What the pension system means for employers
If you employ people in Italy, the pension system is a cost and a compliance duty, not only a benefit for your staff:
- INPS contributions: about 23.81% of gross pay on top of salary, paid every month through payroll.
- TFR: about 6.91% of annual pay accrued every year and paid at the end of employment, or to a pension fund.
- Pension funds: some collective agreements require an employer contribution to the sector fund, and the 2026 automatic enrolment rules apply to new hires.
For the full cost of an employee, see employer costs in Italy or try our salary calculator. If you hire without an Italian company, an Employer of Record handles INPS registration, contributions and TFR for you.
Frequently asked questions
How much is the pension in Italy per month?
It depends on the contributions paid during your working life, your earnings and the age at which you retire. There is no fixed amount. If the pension falls below the legal minimum, INPS can top it up to €611.85 a month in 2026, when the income conditions are met.
What is the minimum pension in Italy in 2026?
The minimum pension (trattamento minimo) is €611.85 a month, or €7,954.05 a year over 13 instalments. Pensions at or below the minimum receive an extra 1.3% increase in 2026, to €619.80. The amounts are provisional.
What is the retirement age in Italy?
67 in 2026, with at least 20 years of contributions. It rises to 67 years and 1 month in 2027 and 67 years and 3 months in 2028.
How much is the pension in Italy for a couple?
There is no joint pension. Each partner receives their own pension. Two minimum pensions add up to about €1,223.70 gross a month in 2026.
Can foreigners receive an Italian pension?
Yes. Contributions paid in Italy count whatever your nationality. Periods worked in the EU, EEA, Switzerland or countries with a social security agreement can be added together, and INPS can pay the pension abroad.
What is INPS?
INPS (Istituto Nazionale della Previdenza Sociale) is Italy’s national social security institute. It collects contributions and pays pensions and most social security benefits.
Employing people in Italy? We handle contracts, payroll, INPS contributions and TFR, and reply within 24 hours.
Book a callFigures updated in October 2026. Amounts for 2026 are provisional and may be adjusted by INPS. This article provides general information; for an individual pension calculation, check My INPS or speak to a qualified adviser (patronato or consulente del lavoro).
