Agro-industry

Enpaia Foundation: Italian agriculture is solid. 80% of new members are women

Increased payments for the Pension Fund for Agricultural Workers: positive 2023, with a profit of 16.2 million euro +52.8% compared to 2022

2' min read

2' min read

The Enpaia Foundation, the provident society for employees in agriculture, files a positive 2023, with a profit of 16.2 million euro, up 52.8% compared to 10.6 million in 2022, confirming the excellent state of health of the organisation, as emerged from the presentation of the 2024 annual report that the Enpaia Foundation presented to the Senate.

Compared to 2022, in 2023 active members grew by 791 to 40,474 (+2%) and companies increased by 1.7% (9,134 companies, +150 compared to the previous year). The erosion of the gender gap between members was reaffirmed: the male population, which still remains in the majority, stood at 20,751, or 51.3% of the total (-0.7% compared to 2022), while the female members went from 48.1% in 2022 to 48.7% in 2023. There is a greater dynamism of the female population: 80% of the 791 new active members at the end of 2023 were women (633), thus determining an increasingly 'pink' future for the Foundation.

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Assessed contribution receipts from ordinary management amounted to 163.4 million (+5%). The collection was not affected by the negative economic values of Italian agriculture: there was no drop in the collection of contributions from registered companies. This confirms, underlines a note, the financial solidity of Italian agriculture.

In contrast, benefits paid by the Foundation amounted to 145.7 million, down 6% on 2022.

On the financial investment front, in 2023 Enpaia invested approximately 515 million and disinvested 440 million, increasing direct investments, mainly government and corporate bonds, and investments in harmonised and alternative funds. The return on investment stood at +2.62%, about two percentage points lower than in 2022.

The net total return, calculated on the Foundation's entire portfolio of securities and real estate, stands at 2.49%, compared to 5.03% in 2022. Finally, the forecast for 2024 is positive: the number of members is expected to stand at 40,919 (+1.1%), while the gross return on financial management is estimated at 3.24%. The average assets stand at 2.15 billion; the overall gross return for 2024 is forecast at 3.42% from 2.95% in 2023.

"The Foundation is implementing an investment programme that, by guaranteeing an adequate level of portfolio diversification, can ensure that companies in the agri-food chain have the capital they need to continue to compete on world markets," stressed the Foundation's president Giorgio Piazza. Investments could be even more significant if the tax framework were more incentive-based. There are, in fact, distortions that penalise private pension funds compared to pension funds, both in terms of the tax rate on returns on investments other than government securities (26% for the funds compared to 20% for the funds) and in terms of the way in which tax is levied on pension benefits: net of returns for the funds, gross for the funds'.

The Enpaia Foundation's investments in the country system, however, exceed 850 million euro, recalled Director General Roberto Diacetti: "50% of our securities assets. Of these, 300 million in particular have been earmarked for investments in Italian infrastructure and private equity funds'.

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