I bank deposits of supplementary pension funds will be excluded from the rules of a possible bail-in, the internal bailout mechanism triggered in the event of a banking crisis. On the other hand, the forms of compulsory social security, such as, for example, are not included in the exclusion Casse.
This is established by the Sanga amendment to the maneuver-encore approved by the Budget Commission, according to which: "on the sums of money and financial instruments of the supplementary pension scheme deposited in any capacity with a depositary, actions by creditors of the depositary, the sub-custodian, or in the interest of the same are not permitted". It means that the money deposited by pension funds or invested and deposited with a bank subsequently found to be in crisis will not run into the bail-in which instead affects shareholders, bondholders and depositors with deposits exceeding 100 thousand euros.
However, the approved amendment does not contain references to compulsory social security institutions such as the Casse of the autonomous professions (Architects, Inpgi, etc.) even if the government is allegedly evaluating the possibility of their recovery in a subsequent provision as explained by the undersecretary for the Economy Pier Paolo Baretta. "It is necessary to recover as soon as possible - he said - the presence of the funds for the exclusion of the bail in". There are no calculations on this yet, nor is it clear what Europe's position might be in this regard
Satisfaction from Sergio Basket, President of Insurance scheme, who specified: "the amendment represents an important first step which should necessarily be followed by the exclusion from the bail-in also of health insurance funds and banking foundations".
Positive judgments on the amendment also come from Giovanni Maggi, President of Pension funds: “the many reminders, including technical ones, received from our Association to the Legislator have been accepted. The protection of pension savings is and must remain
inviolable".
