Exclusion of government bonds broadens Isee

In 2025 the Inps certified approximately 1.2 million more Isee than in the previous year, when there were approximately 10.1 million households 'photographed' by the indicator. Last year, there were more than 11.3 million Single Substitute Declarations sent to the Inps, which resulted in an ordinary certificate, and the increase is most likely to be attributed to the reform - which came into force last April - that excluded from the moveable assets the sums invested in government securities or postal savings books of up to 50,000 euro.

Confirming the trend are the data from the Caf Cgil network on the dossiers managed by intermediaries in 2025: their monitoring reveals a stable trend in the Dsu sent in the first quarter, with a limited annual variation; there was then an increase of 36.8 per cent of dossiers in the second quarter; which then slowed down in the third quarter, during which the increase was 11.54 per cent compared to the previous year; and the trend continued in the last part of the year. The CGIL Cafes also reported an increase in the number of Dsu duplicated by the same household: those handled by intermediaries accounted for 15.5 per cent of the total in 2025.

In fact, last year it was the reform of the indicator (Article 1, paragraph 1, letter d), number 5, of Dpcm 13/2025, which implemented Article 1, paragraph 183, of the Budget Law 2024) that fed the flow of Isee practices: the reform became operational exactly on 3 April when already more than 65% of households had updated the indicator, a debut in the course of the year that forced those concerned to send a new Dsu to request a recalculation with the new calculation methods, more favourable for holders of e.g. Btp or postal savings bonds.

The exclusion of State bonds up to 50 thousand euro, in practice, has changed the rules of the game with the Isee campaign almost over. So much so, in fact, that at the end of last October, the Inps reported to the Sole 24 Ore that the Dsu duplicated in 2025, i.e. sent by the same household to request a recalculation (or to rectify any discrepancies), already amounted to 1,403,721, a sharp increase compared to the 980,722 duplicated throughout 2024. "The reform has certainly contributed to the increase in files handled," confirms Monica Iviglia, president of the Caaf CGIL consortium.

Looking at the numbers in more detail, moreover, it is evident that the number of Isee attestations has increased not only as a result of post-reform recalculation requests. It is the platea itself of families reached by the indicator that has expanded: compared to the previous year, the ordinary Isee certificates were about 12% more and, observing the distribution by Isee value band, it emerges that the increase is more marked in the highest classes (+32% certificates issued between 30 thousand and 50 thousand euro; +29.1% over 50 thousand euro). Therefore, this trend, in addition to reflecting the average growth of incomes and assets of Isee holders, seems to reflect an increase in the number of households interested in obtaining the indicator - in order to benefit from bonuses and benefits - especially among the wealthiest: with the coming into force of the reform, the latter, who are in all likelihood more inclined to invest (or have more savings in their portfolios), may have been prompted to request the certificate for the first time to understand whether they would have thus met the requirements for certain benefits with the new calculation methods. A critical note on this measure was circulated by the CGIL Caf network a few months ago: 'It is possible that the benefits of the exemption of government bonds do not fall on those who would be most entitled to them. By taking them out of the calculation, paradoxically, some citizens could bypass in the waiting lists for benefits those who need them most and do not have any assets'.