Previfonder is a newly established national supplementary pension fund launched by trade union organizations Fp-Cgil, Fisascat-Cisl, and Uiltucs-Uil. The fund is specifically intended for more than 60,000 workers within scholastic and socio-health institutes, welfare and educational institutions, pontifical universities, and ecclesiastical faculties who are employed by Ecclesiastical Authority.
Previfonder aims to bridge a historical gap, as there was no such category-specific supplementary pension protection tool before its launch. The use of such a tool is critical to ensuring comprehensive pension protection in the face of changing demographics and transformations within the public pension system.
The fund provides those who are employed through sector-specific contracts the opportunity to benefit from the mandatory employer contribution of 2%, as well as the payment of their accrued TFR (Severance Indemnity Fund), and a freely chosen individual voluntary contribution.
The fund aims for prudent and transparent management of the accumulated resources to further enhance the pension scheme in place. Previfonder, in accordance with current legislation, will offer withdrawals, redemptions and Early Interim Supplementary Income (RITA).
Importantly, Previfonder will also offer significant tax advantages. Contributions made into the fund will be not taxed up to 5,300.00 Euros annually, while returns on the fund will be taxed at a reduced rate of 20%- below the ordinary tax rate applied to financial income. Further, the final benefits will enjoy a favorable tax regime, as the tax rate decreases with each year of participation.
To summarize, the establishment of Previfonder aims to aid in supplementing traditional pension schemes for employees under the jurisdiction of Ecclesiastical Authority. It offers employees benefits through employer contributions, individual contributions, and tax advantages, in order to provide a secure and improved pension system.
