Supplementary schemes are still at a standstill in Italy. The president of the Commission of Awareness on Pension Funds (Covip) proposed a strategy to soften the law on the assignment of TFR. Maurizio Sacconi, Minister of Labor, is in favor of this measure. (Ref. 080611)
From January to April 2008, pension fund membership increased of 2.8% compared to the end of 2007. The 130.000 new members are mostly employed in the private sector. This was revealed by Luigi Scimia, president of the Covip, during the Commission’s annual meeting in Rome on June 24. However, the president thinks this increase represents the beginning of a declining phase following the 2007 increase – caused by the reform of the TFR (Trattamento di fine rapporto, a deferred part of the salary paid with interests when the person leaves the company; see our articles No.
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