Doctors and dentists, Enpam's balance sheet closes with a 700 million profit

Enpam, the social security institution for physicians and dentists, closes its 2025 balance sheet - unanimously approved - with a profit of 700 million and assets of 27.66 billion (+ 2.98%), which at market value comes to 31.3 billion.

For the first time, the pension balance, given by the difference between contributory revenues and outlays for social security benefits, is negative by 183 million, a result linked to the 323 million increase in pensions paid out. "We are going through the most intense phase of the pension hump, with a physiological increase in benefits," says Enpam president Alberto Oliveti, "but the solidity of our assets and the quality of investments continue to guarantee positive overall results and the full sustainability of the pension system for doctors and dentists.

Investments generated proceeds of approximately EUR 934 million, of which EUR 831 million came from financial management and over EUR 100 million from real estate.

There are 354,518 active doctors and dentists (enrolled in Quota A), of whom 8,466 are students in the 5th and 6th year of degree courses. There are 184,021 pensioners, including 141,445 doctors and dentists and 42,488 surviving family members.

"In one year we paid out benefits amounting to almost EUR 4.2 billion and our commitment will increase over time,' Oliveti says. In order to fulfil this task, the Enpam's balances will have to be maintained. For this reason we carefully monitor all changes, including legislative ones, that could have an impact on pension sustainability'.