Insurance Investment Plans

Resources are managed by coinsurance companies, according to their shareholding, issuing recurrent or subsequent single premium policies, on special lines of management.

On each policy, every 31 of December, the companies acknowledge a revaluation equal to the weighted average of the yields obtained, with a deduction in their favor different depending on the portfolio.

Insurance Agreements with companies additionally provide for: capital protection, minimum secured yield, annual consolidation of the capital, predetermined annuity conversion rates, depending on the conditions that apply to each case.

The ASSICURATIVO 2024 portfolio is for those members that are closest to retirement or have a short/medium time horizon, that is to say an active contribution perspective of less than 10 years.

The insurance agreement, in force from 1st January 2024 to 31 December 2028, uses a special mixed rate called “13 COLL-PREVINDAI” that can be revalued, and provides for:

• consolidation of the capital year after year;
• a revaluation of capital with rates that are greater than or equal to zero;
• a minimum secured yield of 0.5% per year, with a verification on expiration;
• an annuity with fixed demographic and financial coefficients.

The Assicurativo 2024 portfolio fulfils the requirements imposed by Italian Legislative Decree no. 252/2005 and thus is the portfolio where the TFR paid by tacit consent is gathered since 1st January 2014.

This portfolio, as well as the financial ones, can be chosen for the investments of dependant relatives.

The ASSICURATIVO 2014 portfolio is for those members that are closest to retirement or have a short/medium time horizon, that is to say an active contribution perspective of less than 10 years. Starting from Fanuary 1st 2024, the Assicurativo 2014 portfolio cannot receive new investments: the capital allocated up to 31/12/2023 will continue to be managed untill a benefit is requested.

The insurance agreement, in force from 1st January 2014 to 31 December 2023, uses a special mixed rate called “13 COLL-PREVINDAI” that can be revalued, and provides for:

• consolidation of the capital year after year;
• a revaluation of capital with rates that are greater than or equal to zero;
• a minimum secured yield of 0.5% per year, with a verification on expiration;
• Fixed costs paid by members;
• an annuity with fixed demographic and financial coefficients.

The Assicurativo 2014 portfolio fulfilled the requirements imposed by Italian Legislative Decree no. 252/2005 and thus is the portfolio where the TFR paid by tacit consent was gathered until 2023.

Since 1 January 2014, the insurance Assicurativo 1990 portfolio cannot collect any contributions: resources gathered up 31 December 2013 will continue to be managed under the conditions applicable at the moment of the payment, including among others the minimum return guaranteed and the annuity conversion rates. If a benefit request is presented before one more year has passed after reaching retirement age (currently 67 years) or in the last year there has been a work relation producing contribution to Previndai the condition applied will be those in force at that moment, other wise the applicable conditions are those available here

The agreement, terminated on 31 December 2013, provided single recurrent premium Branch I policies using a special rate called “CAP.D.I.”, that ensured:

• annual consolidation of the capital
• minimum secured yield, different according to the issuing year of the policy and equal to:
  

  Policies issued
  Until 31/12/1998	4%
  Since 01/01/1999 to 31/12/2003	3%
  Since 01/01/2004 to 31/03/2006	2.5%
  Since 01/04/2006 to 31/12/2007	2%
  Since 01/01/2008 to 31/12/2013	2.5%

• predetermined annuity conversion rates.

The Assicurativo 1990 portfolio fulfilled the requirements imposed by Italian Legislative Decree no. 252/2005 and thus is the portfolio where the TFR paid by tacit consent was gathered until 2013.

All Agreements for the management of the insurance portfolios – 2024, 2014 and 1990 – provide that, at the beginning of each year, insurance companies must send to the Fund, as policyholder, a certificate for each member investing in said portfolios, summarizing the policies issued during the previous year for each premium paid, and the total amount accrued at the end of the same year.

The Fund forwards it together with its annual communication to all members.

A copy of the insurance certificate is available in the private internet account of each member, in the communications section.

On the Assicurativo 2024 portfolio, there is a single rate charged on premiums of 0.40% of the amounts paid.

On the Assicurativo 2014 portfolio, there was a single rate charged on premiums of 0.50% of the amounts paid untill 31/12/2023.

In order to provide complete information, please find below the history of rates with relevant global premiums amounts for the Assicurativo 1990 portfolio.