The funding of institutions for occupational retirement and investment € ™ contributions

Financing

To complementary pension schemes pua ² contribute through:

• TFR future;
• contributions to the worker;
• contributions payable by the employer.

From 1st January 2007, pua ² adhere to complementary pension schemes including through the provision of severance pay only the future (See â € ~ The choice of the destination of the Task Force € ™). This membership does not entail € ™ obligation to pay other taxes, nà © nà © by the employee of the employer.

Lâ € ™ pua ² member, however, decide to pay additional contributions, and determine freely the amount € ™, in which case, if the agreements or collective agreements provide for it, has the right to payment of contributions payable by the employer. Employer pua ² still decide, even in the absence of collective agreements, to provide financial support to bear the supplementary pension to which the employee is a party.

Pension schemes in collective agreements or contracts may provide the least amount of contributions (in the fixed amount or percentage of pay) for workers and employers.

In individual pension schemes, the worker, where he contributes to its load, has the right also to the contribution payable by the employer, according to the requirements of collective agreements.

Investment

For every employee who joins the supplementary pension as an individual position where the contributions come together (TFR and any employee contributions and employer). The contributions are invested by managers who specialize in securities (stocks, bonds and other bonds, shares of mutual funds) according to the investment policy determined by the type of pension and produce time-varying function returns s â € ™ market trends and management options. The contributions are managed by specialist managers assets separate and independent, destined exclusively for the purpose of social security is withdrawn from € ™ execution by creditors of the manager.

A specific prudential certain strict criteria for the identification and allocation of risk in the choice of investments. The COVIP € ™ supervise the observance and compliance with these rules.

In some pension schemes, investment policy, resource room online only for all members (bottom monocomparto) that, therefore, benefit the same way as the results of management financial.

In other forms, the investment € ™ à ¨ pià ¹ differentiated lines of investment (funds pluricomparto), different in nature and risk. In this case the member chooses the industry € ™ (the line of investment) that join on the basis of personal assessments.

The choice of the major online investment ¹ adaptation must take account of their socio-economic conditions, the â € ™ age, the greater or lesser distance from the time of retirement and the propensity to personal financial risk. Workers pià ¹ ¹ young people might be inclined to choose major lines of investment pià ¹ aggressive equity-dominated, with a greater degree of risk but also greater likelihood of high returns in the "long term". Instead, workers at the major airport board would prefer € ™ adherence to a sector controlled so easily ¹ "cautious", dominated bonds.

à worth noting also that in case of joining the pension schemes in a manner complementary tacit, the new framework provides that the TFR is given in the line of prudent investment content, such as to secure the return of capital and returns comparable to the rate of revaluation of the TFR.

Source: tfr.gov.it

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