Pension funds for professionals, eleven billion in assets and 221,000 members
Thirty years ago, Legislative Decree 103/1996 introduced the pure contributory system with individual capitalisation
Key points
Even billion in assets, more than 221,000 members and about 24,000 pensioners: these are the numbers of the Pension Institutions of professionals, established thirty years ago with Legislative Decree 103/1996. In 2024, the measures disbursed in support of members amounted to EUR 44 million against approximately 95 million in fees paid. The data are contained in the report '30 years of private pension provision. Rapporto sugli enti previdenziali istituiti con d.lgs. 10 febbraio 1996, n.103' by the Centro studi e ricerche itinerari previdenziali, presented in Rome on 13 May during the event '30 years of 103- La previdenza privata per i professionisti: una protezione per il Paese'.
Data
The contributions paid out in 2024 reached EUR 875 million and the weight of the financial management of the accumulated resources also increased. In fact, returns have risen from 10 per cent of total income in 2000 to 22 per cent today, for a total value of 356 million euro. The value of the b> benefits paid out to members has also increased: in 2000 it was 3 million euro, in 2024 the amount has risen to 165 million.
The entities
There are seven pension funds involved:
- Enpab (Ente nazionale previdenza e assistenza per gli addetti e per gli impiegati in agricoltura);
- Enpap (Ente nazionale di previdenza e assistenza per gli psicologi);
- Enpapi (Ente nazionale di previdenza e assistenza per gli psicologi);
- Enpapi (Ente nazionale di previdenza e assistenza della professione infermieristica)
- Epap (Multisectoral Welfare and Assistance Body, grouping together agronomists, actuaries, chemists, physicists and geologists);
- Eppi (Welfare Institution for Industrial Experts and Graduate Industrial Experts);
- Inpgi (National Welfare Institution for Italian Journalists)
For the newly established Institutions, the Decree 103/96, implementing the Dini reform, introduced the purely individual capitalisation contribution system. Over the course of the thirty-year period, the Institutions have allocated about one billion euros to increase the individual contribution bases of their members, distributing quotas of the supplementary contribution for about 588 million euros. Another EUR 375 million were used for further revaluations of individual uprights at higher rates than those provided for by the regulations in force.
New proposals
During the event, a number of proposals were presented tostrengthen the professional pension system, also in the light of today's social, economic and production transformations. These include the introduction of the end-of-service pension with the strengthening of the flexibility of the supplementary contribution by raising the ceiling from 5 per cent to 6 per cent.
