Italian employees had up to June 30 to decide to maintain the TFR "trattamento di fine rapporto" - that is to say the part of the salary deferred and paid-in, along with the interests, at the time when the person leaves the company - in the company or to allocate it to pension funds. On July 31, the Labour Ministry Cesare Damiano presented the first figures of this reform, which aims at making complementary pensions soar : 15% of the employees concerned joined a pension fund but the largest part of this contingent results from the enforcement of the rule "silence implies consent", established by the government precisely to obtain best results. (Ref. 070674)
Even if subscription resulting from the rule “silence implies consent” wins over voluntary subscription to pension funds (see our articles 061085 and 070545), the massive allocation of TFR (“trattamento di fine rapporto”) funds to pension funds is nonetheless considered as a success by the Labour Ministry Cesare Damiano.
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