The initial choice of the sub-fund(s) to which contributions are allocated (with a minimum allocation of at least 10% per sub-fund) is made by the member through the Previndai enrollment form.
In the event of tacit enrollment (automatic enrollment), the contributed TFR (Staff Severance Pay) is automatically allocated to the insurance-based sub-fund (Assicurativo 2024). This allocation can be modified at any time, even before one year has elapsed.
Members may:
Modify their choice of investment sub-fund for contributions over time via the designated function 067 in the Reserved Area. Current contributions can be allocated across multiple sub-funds simultaneously, with a minimum allocation of at least 10% per sub-fund.
Transfer, in whole or in part, their existing balance from one sub-fund to another (switch), also via function 067. This allows for an allocation that differs from the one chosen for current contributions, provided the minimum amount is at least 5%. If the member opts for a partial switch of their insurance position toward financial sub-funds, the divestment process will proportionally involve all insurance policies making up the individual position.
Please note: Exercising a switch interrupts the investment period and, therefore, should not, in principle, be used as a tool for managing an individual position. Periodically changing sub-fund choices in an attempt to “chase” market trends can, in most cases, lead to significant reductions not only in invested assets but also in the probability of recovering losses.
Choose a different sub-fund allocation for positions transferred from another fund than the one applied to the position established directly with Previndai. This can be done using Form 029, available in the “Forms and Documents” section. In this case, the allocation can also be spread across multiple sub-funds simultaneously, with a minimum amount of at least 5%.
At least one year must elapse between any two options/switches referred to in points 1 and 2.
At present, the Board of Directors has decided not to apply any fees for exercising a switch. It should be noted, however, that for executives classified as “long-standing members” (vecchi iscritti) only, switching the insurance position to financial sub-funds incurs a tax charge of 12.50% on returns accrued as of December 31, 2000. In most cases, this is merely a prepayment, as the charge would be incurred regardless in the event of a lump-sum benefit payment.
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