SUPPLEMENTARY PENSION AS A LIFESAVER FOR THE ITALIAN FUTURE

This thesis is structured into three chapters and aims to examine the importance of conscious and effective management of financial resources, particularly in preparation for retirement. Given the likelihood that public pension contributions will not be sufficient to maintain the desired standard of living post-retirement, it is essential to explore complementary solutions. The first chapter provides an overview of the Italian pension system, focusing on INPS, the public institution responsible for pension management, and discusses the future challenges facing the system. It also addresses trends in salaries in Italy, the reduction in purchasing power, and Italians' investment preferences. The second chapter delves into the three pillars of the Italian pension system, discussing available alternatives to integrate public pension such as closed and open pension funds, as well as the third pillar. It includes a comparative analysis of historical returns of pension funds and independent investment solutions, offering simulations to assess cases where investing savings independently could be more advantageous than relying solely on pension funds. The third chapter focuses on financial education in the EU, with a particular emphasis on Italy, integrating the European Commission's survey data with a survey conducted by the author on pension funds.