Conviene lasciare il tfr in azienda o nel fondo pensione?

Summary

The script offers an in-depth comparison between leaving the TFR (Trattamento di Fine Rapporto) in a company or transferring it to a pension fund. It clarifies what TFR is, the legal requirements for companies regarding TFR, and the differences in appreciation, anticipation rules, and taxation between keeping TFR within a company and investing in a pension fund. The script also discusses the flexibility of TFR in a company versus the strict regulations of a pension fund, the potential for employer contributions to a pension fund, and the various options available for withdrawing funds at retirement. It concludes by emphasizing the importance of considering individual circumstances when deciding where to allocate TFR.

Takeaways

• 📑 The TFR (Trattamento di Fine Rapporto) is a sum of money owed by an employer to an employee, which is not received until the employment relationship ends, whether through retirement, dismissal, or resignation.
• 💰 TFR is calculated as a fixed percentage of the employee's annual gross salary, currently set at 6.91%, and accumulates based on the duration of employment.
• 🏦 When deciding where to allocate the TFR, employees can choose to leave it with the company or transfer it to a pension fund, as indicated on the TFR2 form during employment.
• 🏢 If the TFR is left with the company, it may be held in the company's current accounts, but if the company is small or newly established, it must be transferred to INPS (the National Institute for Social Security).
• 💼 If the TFR is transferred to a pension fund, the employee must specify which fund to use, and the company will make periodic payments, typically quarterly.
• 📈 Pension funds are long-term financial investment tools designed to provide economic support during retirement, with varying investment strategies and horizons.
• 🌐 There are around 140 pension funds in Italy, categorized into Individual Pension Plans (Pip), Open Pension Funds (FPA), and Closed Pension Funds (FPN), each with different features and regulations.
• 🔑 The revaluation of TFR differs between in-company and pension funds. In-company TFR accrues a fixed 1.5% interest plus 75% of the annual inflation, while pension funds' revaluation depends on investment performance.
• 🚫 Withdrawal rules for TFR are more flexible in-company, allowing for advances under certain conditions, whereas pension funds have stricter rules with limited reasons and percentages for withdrawal.
• 💼 Taxation of TFR is different when withdrawn. In-company TFR is taxed based on the average IRPEF rate of the past five years, while pension funds have a more favorable tax rate ranging from 9% to 15% depending on the duration in the supplementary pension scheme.
• 🔑 Employees have the option of employer contributions in addition to their TFR in pension funds, which are calculated as a percentage of the employee's salary and can provide additional benefits.
• 📋 At retirement, TFR in a pension fund offers more flexibility in withdrawal options, including full withdrawal as a lump sum, which is subject to certain legal conditions.

Q & A

What is TFR and what does it stand for?

TFR stands for 'Trattamento di Fine Rapporto', which is an amount of money that an employer owes an employee but is not paid until the employment relationship ends, such as through retirement, dismissal, or resignation.

How is the TFR amount calculated?

The TFR amount is calculated as a fixed percentage of the employee's annual gross salary, specifically 6.91%, based on the number of years worked for the employer.

What is the TFR2 form and what is its purpose?

The TFR2 form is a document that employees fill out when they are hired, indicating where they want their TFR to be set aside, either with the company or in a pension fund.

What are the two main options for where the TFR can be held?

The two main options for holding the TFR are with the company's current accounts or with the National Institute for Insurance against Accidents at Work (INAIL) if certain conditions are met.

What is a pension fund and how does it relate to TFR?

A pension fund is a financial investment tool designed for long-term savings, often used to provide economic support during retirement. Employees can choose to have their TFR paid into a pension fund instead of leaving it with the company.

How does the TFR appreciate if left with the company?

If the TFR is left with the company, the employer must set aside the TFR amounts and also appreciate it by providing an interest rate of 1.5% fixed plus 75% of the inflation registered in that year, as per the Civil Code Article 2120.

What are the different types of pension funds available in Italy?

In Italy, there are approximately 140 pension funds that belong to three different categories: Individual Pension Plans (PIP), Open Pension Funds (FPA), and Closed or Category Pension Funds (FPN), which often correspond to a National Collective Labor Agreement (CCNL).

What are the tax implications when withdrawing the TFR from a company?

When withdrawing the TFR from a company, the amount is taxed based on the average IRPEF (Personal Income Tax) rate of the employee's income over the last 5 years, with a minimum tax rate of 23% and a maximum rate of 43%.

How are the TFR funds taxed when withdrawn from a pension fund?

When withdrawn from a pension fund, the TFR funds are taxed at a reduced rate ranging from a minimum of 9% to a maximum of 15%, depending on the number of years the employee has been part of the supplementary pension scheme.

What are the conditions for early withdrawal of TFR from a pension fund?

Early withdrawal of TFR from a pension fund is allowed under certain conditions, such as for health expenses, first home, or without a specific reason up to 30% of the fund after 8 years of membership in the supplementary pension scheme.

Can an employer contribute to an employee's pension fund and how does it work?

Yes, an employer can contribute to an employee's pension fund. This is typically based on an agreement with the company or a CCNL, where the employee contributes a percentage of their gross salary, and in return, the employer contributes an additional percentage.

What are the three main options for withdrawing funds from a pension fund upon retirement?

The three main options for withdrawing funds from a pension fund upon retirement are: 1) Receiving 100% as an annuity or supplementary pension, 2) Withdrawing 100% of the fund as a lump sum, subject to certain conditions, and 3) A combination of both annuity and lump sum, depending on the individual's needs and preferences.