Six proposals to relaunch supplementary pensions. This is the content of the "position paper" presented on Friday in Milan by FeBAF (the Federation of Banks, Insurance and Finance), on the occasion of national social security day. The round table was also attended by representatives of Abi, Ania, the Treasury, the Ministry of Labor and Covip.
Here's what it is:
1. Full portability of the employer contribution if the position is transferred from a contractual pension fund to a collective or individual form.
2. Simplification of the offer documentation and of the procedures for collecting individual subscriptions to open pension funds.
3. Recognition of the right of redemption and transfer of position in individual pension schemes in the event of loss of participation requirements.
4. Updating of the rules on pension fund investments and on the containment and spread of risk.
5. Removal of the prohibition for traded and open-ended funds to invest in branch I and V insurance contracts linked to segregated funds.
6. Measures of rationalization of some aspects of governance of funds.
In essence, "a sort of technical "six-pack" on supplementary pensions in Italy - reads the note from the Federation -, the result of the work of a task force Abi, Ania, Assogestioni and FeBAF, which proposes some specific reform interventions of primary and secondary legislation in the name of greater transparency, competitive equality between the different pension forms, the simplification of procedures that currently stiffen the offer and risk discourage the audience of potential members". Measures which, "together with the diffusion of a greater awareness of one's pension situation, would broaden the range of pension choices of the citizen".
According to the general secretary of the FeBAF, Enrico Granata, these interventions are necessary because, "A faced with the reform of the public welfare system which has made the system safe, the overall picture remains unsatisfactory in terms of the size of the rates of participation in pension funds, the increase in the availability flows paid to them, the level of competitive equalization between the various pension schemes at which ones to access”. These proposals “They don't want to make a revolution in the sector – continued Granata -, but they are asking for ordinary maintenance of the regulatory framework. A 'coupon', twenty years after the birth of pension funds and more than five since the last reform, to be submitted to a technical discussion table in the institutional offices”.
