Italy: Pensions and Investment News and Analysis
A main preoccupation of successive governments has been tweaks to the state pension age in particular the retirement age: political aspirations from both left and rights continually hit the buffers of fiscal reality. The current early retirement system will be phased out by the current government, unless it finds a way to replace it. Italy’s workplace occupational pension system in fact works quite well, with a moderate amount of pension assets relative to the size of the country’s economy, but including an established auto-enrolment component that has been attracting the attention of EU policymakers of late.
Pension Funds in Italy - Country Report
Italy Country Report 2024: How local pensions could support the economy
The Italian pension industry and policymakers are discussing ways to channel more pension investment towards the country’s business sector
TOP ITALIAN PENSION FUNDS 2024
Pension fund/entity | Assets (€’000)
- Fondazione ENPAM | 26,221,000
- Cassa Nazionale di Prev. e Assist. Forense | 17,855,000
- Previndai-Fondo Pensione | 14,505,681
- Fondo Pensione COMETA | 13,894,503
- Inarcassa | 13,433,000
©IPE Research; View the Top 1000 European Pensions Funds 2024 for a comprehensive market overview
AUM of Italy’s first pillar schemes shoots up by 10%
Over the last 10 years, the AUM volume of Italian pension schemes has grown by €48.4bn, according to Covip
Italian pension funds’ ESG policies on right path, but shortfalls emerge
Research shows that 60.17% of schemes have drafted an ESG investment policy, as of this year, up from 37.50% in 2019
Inarcassa to boost alternatives with €900m investment
The boost represents an increase of 6.3% compared to the current allocation level
Laborfonds tenders eight equities, bonds mandates worth €2.8bn
The deadline for applications has been set for 8 November
Fondo Telemaco seeks asset managers for mandates worth €2.2bn
The deadline for asset management firms to participate has been set to 5 November
TOP MANAGERS: ITALIAN INSTITUTIONAL ASSETS
Company | Assets (€m)
- Generali Investments | 204,903*
- Eurizon Asset Management | 180,054
- Anima Holding | 136,113
- Amundi | 64,824
- AXA Investment Managers | 35,666**
- Allianz Global Investors | 30,498***
- BlackRock | 21,920
- Morgan Stanley Investment Management | 16,747***
- Fondaco | 12,593***
- BNP Paribas Asset Management | 10,717
As at 31.3.24, *29.04.24, **29.12.23, ***31/12/23
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IPE BEST PENSION FUND IN ITALY AWARD WINNERS
- 2023 - Cassa Nazionale del Notariato | Fondo Pensioni Del Personale Gruppo BNL/BNP Paribas Italia
- 2022 - Fondo Pensione Nazionale BCC/CRA
- 2021 - Fondo Pensione Nazionale BCC/CRA | PrevAer
- 2020 - Fondoposte
- 2019 - Fondo Pensione Laborfonds
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Italy needs a serious debate about pensions
Italian policymakers are bent on indulging the relatively small but influential minority of Italians that is nearing retirement, but lament that the statutory retirement age of 67 is too high. The reform efforts of past years have been towards reducing the retirement age or increasing flexibility in retirement. The resources employed towards supporting second-pillar pensions have been next to none.
AUM of Italy’s first pillar schemes shoots up by 10%
Over the last 10 years, the AUM volume of Italian pension schemes has grown by €48.4bn, according to Covip
Italian pension funds’ ESG policies on right path, but shortfalls emerge
Research shows that 60.17% of schemes have drafted an ESG investment policy, as of this year, up from 37.50% in 2019
Inarcassa to boost alternatives with €900m investment
The boost represents an increase of 6.3% compared to the current allocation level
Laborfonds tenders eight equities, bonds mandates worth €2.8bn
The deadline for applications has been set for 8 November
Fondo Telemaco seeks asset managers for mandates worth €2.2bn
The deadline for asset management firms to participate has been set to 5 November
SNB Bills emerge as new tool for Swiss schemes’ liquidity management
SNB Bills can play an important role in negotiations with banks on interest rates, says PPCmetrics’ Lukas Riesen
Italian pension funds ask for tax concessions to invest in real economy
It is necessary to simplify legislation to effectively enforce and reap the benefits of tax exemptions, says Assofondipensione’s Giovanni Maggi
Scheme for Italian lawyers to switch to defined contribution
The first pillar scheme will apply a ‘mixed system’ to calculate the pension benefits of current members
Intesa Sanpaolo, Cariplo pension funds merge to create €12bn scheme
The integration will take place through a ‘collective transfer’ of members and accrued savings
Italy plans €1bn FoFs launch for small-cap domestic investments
The Fondo Nazionale Strategico Indiretto (FNSI), a closed-ended fund of funds (FoFs), will be managed by Cassa Depositi e Prestiti (CDP)
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