Italy is heading toward a profound demographic transformation that could place increasing pressure on both the pension system and the labor market. According to a study by Bocconi University presented at the Milan Longevity Summit, by 2050 the country’s old-age dependency ratio could reach 98% — nearly one person over the age of 65 for every individual under 20.
Alessandra Perrazzelli, scientific director of the Center for Digital Regulation Strategy and visiting professor at the Polytechnic University of Milan, explained that the share of young people in Italy is expected to continue shrinking, falling from 31% in 1975 to just 15% by 2050. At the same time, citizens over 65 are projected to make up roughly one-third of the population. Meanwhile, the workforce is expected to decline sharply, from more than 35 million people in 2000 to an estimated 27.6 million in 2050.
Perrazzelli stressed the importance of teaching young people to plan their retirement from the very beginning of their working lives, including through simple investment tools such as savings plans and digitalized ETFs. At the same time, the so-called “silver economy” continues to grow: people over 50 already generate 34% of global GDP and account for half of consumer spending, a figure expected to rise to 60% by 2050.