A main preoccupation of successive governments has been tweaks to the state pension age in particular the retirement age: political aspirations from both left and rights continually hit the buffers of fiscal reality. The current early retirement system will be phased out by the current government, unless it finds a way to replace it. Italy’s workplace occupational pension system in fact works quite well, with a moderate amount of pension assets relative to the size of the country’s economy, but including an established auto-enrolment component that has been attracting the attention of EU policymakers of late.
The Italian pension industry and policymakers are discussing ways to channel more pension investment towards the country’s business sector
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The bank is stripping current external asset manager Anima of its mandate to manage the mutual funds of Etica SGR, the bank’s asset management arm
GCIL is accusing INPS of having changed the criteria to calculate pensions for those opting to retire early
The new manager will run the scheme’s ‘Garantito’ sub-fund, worth around €350m, which invests 96% in bonds and 4% in equities
Under the new option, the pension fund will pursue a strategy with a strong exposure to equities
The new rule allows a merger of first and second-pillar contributions
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As at 31.3.24, *29.04.24, **29.12.23, ***31/12/23
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Italian policymakers are bent on indulging the relatively small but influential minority of Italians that is nearing retirement, but lament that the statutory retirement age of 67 is too high. The reform efforts of past years have been towards reducing the retirement age or increasing flexibility in retirement. The resources employed towards supporting second-pillar pensions have been next to none.
The bank is stripping current external asset manager Anima of its mandate to manage the mutual funds of Etica SGR, the bank’s asset management arm
GCIL is accusing INPS of having changed the criteria to calculate pensions for those opting to retire early
The new manager will run the scheme’s ‘Garantito’ sub-fund, worth around €350m, which invests 96% in bonds and 4% in equities
Under the new option, the pension fund will pursue a strategy with a strong exposure to equities
The new rule allows a merger of first and second-pillar contributions
Fon.Te has also approved investments worth €130m to back alternative investment funds (AIFs) internationally
The FoF infrastructure aims to fundraise €500m through capital allocated by pension funds
Adepp, the Italian association of pension funds for professionals, has welcomed the changes to the competition law
The pension fund is looking for an asset manager to invest €70-80m in private equity and another for €80m to run its DB sub-fund
The scheme will end the current year with a budget surplus of €484m, a result that overturns the previous outlook of a deficit amounting to €84m