Almost half of pensioners get less than 1,000 euros a month Nearly 30% under 65, Istat and INPS say

(ANSA) - Rome, April 26 - Nearly half of all retired Italians received less than 1,000 euros in monthly pension payments in 2010, a report said Thursday. National statistics agency Istat and pension agency INPS reported that 7.6 million pensioners, 45.4% of the total, received less 1,000 euros in retirement benefits every month. For 2.4 million pensioners, 14.4% of the total, monthly payments were less than 500 euros. The total government payout on pensions increased by 1.9% to 258.5 billion euros from 2009.But the number accounted for 16.64% of GDP, compared to 16.69% in the previous year. The average annual payment for Italy's 16.7 million pensioners was 15,471 euros. Over 70% of Italian retirees were over the age of 64, while nearly one third, 29.1%, were less than 65. Over one quarter of pension recipients were between 40 and 64, and 3.5% were under 40.