Member's Prior Death: Designation of Beneficiaries

    Member’s Prior Death: Designation of Beneficiaries
    In the event that the death of the member/holder occurs before the right to benefits matures, the entire accrued position is redeemed by the heirs or, alternatively, by different individuals designated as beneficiaries by the member (Art. 14, paragraph 3, of Legislative Decree no. 252/2005).

    The Commission for the Supervision of Pension Funds (Covip), in a document dated July 15, 2008, clarified, among other things, that:

    • Designated beneficiaries take precedence over heirs;
    • This is a benefit “iure proprio” (by right) and not “iure successionis” (by right of succession);
    • A different agreement among those entitled still remains valid.
    N.B.: In the event that a designated beneficiary dies before the member, the share allocated to them will be liquidated to the legitimate and/or testamentary heirs of the member themselves, unless a new designation is made (Documento di regolamentazione del riscatto della posizione individuale).

    For the designation, the Fund has provided a specific function available in the member’s reserved area where form 062 can be completed via the web (alternatively, it is available in the Forms and Documents section).

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    WEB PROCEDURE INSTRUCTIONS

    For a variation or revocation of a previous designation, the same form 062 must be used.
    A minor who is a fiscally dependent family member cannot make designations.

    ESSENTIAL REQUIREMENTS FOR ACQUIRING THE FORM

    The completed and signed form must be:
    • Sent to the Fund in original form (not via email/PEC/fax);
    • Accompanied by a valid copy of the member’s identification document (the designated beneficiary’s identification document is not required).