Pensioni Anticipate in Decline in 2026: Effects on Enterprises and Markets

Autore · Elisa Varnelli

What happened. The pension sector has been hit by two contradictory trends over the past year. The introduction of flexible exit options with the latest Budget laws has produced positive results, but these changes have also had negative effects in the context of anticipated pensions.

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Stability in social security contributions contrasts with a decrease in anticipated pensions. Recent amendments to budget laws have led to a significant reduction in workers who withdraw early on retirement age. This phenomenon is due to restrictions on exit flexibility, which have made this form of pensioning less attractive.

The National Pension Institute (Inps) has noted a reduction in the ratio between anticipated pensions and those of old age, which has risen from around 19% to 30% over the past nine months of 2026. In quantitative terms, data show a decrease of about five percentage points in pension inflow in the first nine months of 2026 compared to previous years. Workers who withdrew early have been replaced by pension and anticipation benefits, with a notable increase in these entities compared to last year.

At the same time, the number of anticipated pensions has remained stable or decreased in some regions, while the ratio between anticipated pensions and old age pensions has increased in others. This trend seems to be due to an increasing trend towards contributory pre-retirement, which has reduced the number of workers using supplementary pre-retirement for the minimum required amount. The pension institute has also noted a drop of six points in the ratio between disability pensions and old age pensions, but this result did not affect women's options, which remain at 118%.

Furthermore, the treatment of anticipated pensions has been maintained at 971 euros, confirming the stability in female treatment quotas compared to male ones. Differences in anticipated pensions are also evident in the INPS management sector. Returning to original budget laws has led to a significant reduction in the number of workers who withdraw early on retirement age, but these changes have also had negative effects in the context of anticipated pensions.

This phenomenon seems to be due to an increasing trend towards contributory pre-retirement, which has reduced the number of workers using supplementary pre-retirement for the minimum required amount.

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