The last Covip report on supplementary pensions (Data updated to September 2019), second private pillar of the Italian social security system - the first public and PAYG, the third product of any individual subscription accumulation – It shows the number of accessions to the same.
The report also states that "the pension funds remain the most affordable: Indeed, give ISC (Synthetic Cost) average 1.07% on two years of participation comes down to 0,26% their 35 years. As for open-ended funds and Pip, ISC calculated on the same time horizon goes, respectively, from 2,37% and from 1.24% 3,87% all’1,83%”.
And then you: "The higher cost and placement of products on which only the individual nature does not converge, de facto, employer contributions PIP has not stopped to pick up a significant number of participants as well as self-employed among employees ". But it is in comparison to 10 years (2008-2018) that the incidence of costs is even more evident.
Finally, as highlighted in the report Covip, “costs erode returns significantly”, so it will be interesting to see if, also in 2020, Sara “the extensive work of the sales network on the territory, remunerated on the basis of incentive systems”, choose to do Employees are all more costly forms of retirement savings.
Here to read the progress of the PIP returns.
Here to get an idea on how to choose the most appropriate supplementary pension scheme to fit your needs?
Alex Gaetani
Tables extracted from Covip Report