Italy has been urged to rein in the cost of its first-pillar pensions as mounting age-related spending and high public debt intensify pressure on the country’s long-term fiscal sustainability, according to the OECD.
The OECD’s Economic Survey of Italy noted that pensions currently make up a high share of public spending, around 18 per cent of the country’s gross domestic product (GDP) compared to an average of around 12 per cent across OECD countries




