Sixteenth Monthly Report by ANIA and UniNa: The Pension Expectations of Italians in 2025

Developed by a joint working group from ANIA (Italian National Association of Insurance Companies) and the Department of Economics and Statistics at the University of Naples Federico II, the goal of the Monthly Report is to track Italian consumer expectations through descriptive statistical analysis of data collected by the “Italian Survey on Consumer Expectations” (ISCE).

This survey investigates consumers' economic and financial choices and their expectations for the future trends of various economic indicators. It also includes a thematic section that varies with each survey wave.

For each ISCE survey, conducted on a quarterly basis, the report provides periodic updates on Italian consumer expectations regarding the macroeconomic and microeconomic landscape, as well as findings from specific thematic sections.

The September 2025 report explores Italian households’ pension expectations, based on ISCE survey data

The note analyzes data from the “special” section of the survey dedicated to Italian consumers’ pension expectations. In particular, the questions aim to investigate expectations regarding the retirement age and the share of income Italians expect to receive as a public pension. The results show that, on average, Italian workers (both employees and the self-employed) expect to retire at around 66 years of age, with income amounting to just over half of the salary earned during working life. It also emerges that half of the respondents view planning for financial security in old age primarily as an individual responsibility. Despite this evidence, the spread of supplementary pension plans remains rather limited, though it is linked to households’ socio-economic characteristics.

For detailed information on methodology, content, definitions, and the survey sample, please refer to the Methodological Appendix.
Further insights on the data presented and additional statistical information not included in the report can be found in the Statistical Appendix.

Any questions regarding the data in this publication may be directed via email to grins_spoke3@ania.it.

The information contained in these publications may be used and distributed with appropriate citation of the source. ANIA and UniNa bear no responsibility for any misinterpretation or incorrect conclusions drawn from the information provided.