How it works
Tax Benefits
Fewer taxes to pay
By joining Fondapi you will enjoy the tax benefits related to supplementary pensions, both in the accumulation and liquidation phases.
Here's how Fondapi helps you
Also regarding the tax obligations on the member, compared to other investments, the pension fund is very advantageous; moreover, the member, except in some cases, does not have particular or difficult tax obligations to fulfill.
Deductibility of contributions
Every year you can deduct up to €5,164.57. Fewer taxes on your tax return. Every year!
Advantageous taxation of returns
Fondapi returns are taxed at 20% instead of 26%!
Tax discount on TFR liquidations
Liquidation for retirement is taxed between 15% and 9%.
Tax deductibility
Tax deductions refer to expenses that a taxpayer can “subtract” from their total taxable income thereby reducing the taxable base on which IRPEF tax is calculated.
The sum of deductible expenses must be subtracted from total income, while the result (i.e., taxable income) will be used to calculate IRPEF, reducing the overall tax rate that weighs on the taxpayer.
Please note that it is possible to deduct up to €5,164.57 each year; having multiple pension funds or contributing for multiple dependents does not raise this limit, and any amounts that contribute to exceeding this threshold must be promptly reported to the Fund as they cannot be deducted.
Simulate tax savings
What can be deducted?
Employee voluntary contribution
The contribution you have chosen to pay directly from your paycheck each month.
Additional company
contribution
The contribution entirely borne by the company that you obtain by paying your voluntary contribution.
Additional payroll contributions
Amounts you ask the company to withhold from your paycheck and pay directly to Fondapi.
"One-time" voluntary contributions
Contributions for dependent family members
Bank transfers made from your current account in favor of the position at Fondapi of a fiscally dependent family member.
Taxation of returns
The returns realized by the fund are subject to a substitute tax equal to 20%, with the exception of government bonds and equivalent securities whose returns are taxed at 12.50%.
This taxation is lower compared to that applied to returns from other financial instruments, which normally incur a tax equal to 26%.
Stock taxation |
Bond taxation |
|
|---|---|---|
Returns from Fondapi compartments |
20% |
12,5% |
Returns from other investments |
26% |
12,5% |
Tax discount on TFR liquidations
The tax benefits related to supplementary pensions also affect pension benefits, in addition to benefits paid before retirement. They, in fact, benefit from favorable tax treatment compared to IRPEF taxation applied by the company.
In particular, on contributions paid from 01/01/2007:
- for pension benefits;
- advances for medical expenses;
- 50% partial withdrawals;
- withdrawals in case of death;
- disability with reduction of work capacity to less than one third;
- unemployment for a period exceeding 48 months,
a tax rate of 15% is provided for the first 15 years of fund membership; in addition, the rate decreases by 0.30% for each year of participation after the fifteenth, down to a minimum of 9%.
Examples of tax discount
on pension benefits
Below we report an example of a worker enrolled in Fondapi since 2007 with a 35-year membership; for ease of calculation, the table considers only the accrued TFR, without considering returns or company and employee contributions.
35-year comparison
Let’s quantify the tax benefits of supplementary pensions:
- Worker enrolled for 35 years
- Redemption for retirement
- Accrued TFR €85,000, 35 years of work experience
Fondapi enrollment |
Accumulated TFR |
Company taxation |
Fondapi taxation |
Company tax withholding |
Fondapi tax withholding |
Savings |
|
|---|---|---|---|---|---|---|---|
Mario |
€85,000 |
9% |
€7,650 |
€13,058 |
|||
Lucia |
€85,000 |
24,36% |
€20,708 |
€0 |
15-year comparison
Let’s quantify the tax benefits of supplementary pensions:
- Worker enrolled for 15 years
- Redemption for retirement
- Accrued TFR €37,500, 15 years of work experience
Fondapi enrollment |
Accumulated TFR |
Company taxation |
Fondapi taxation |
Company tax withholding |
Fondapi tax withholding |
Savings |
|
|---|---|---|---|---|---|---|---|
Mario |
€37,500 |
15% |
€5,625 |
€3,625 |
|||
Lucia |
€37,500 |
24,67% |
€9,250 |
€0 |
Additional tax benefits: taxation of other benefits related to supplementary pensions
For other types of benefits a fixed tax rate of 23% is provided, which is still lower compared to company IRPEF taxation that starts at 23% and increases based on the amount.
For workers who have accrued contributions before 01/01/2007 the taxation applied is that provided by the tax regime in force before the entry into force of the 2007 TFR law (Legislative Decree 252/2007). In particular:
- in cases of withdrawal following termination of employment for reasons not dependent on the will of the parties (retirement, mobility, company bankruptcy, etc.) and for all types of advances, contributions are taxed at the marginal IRPEF rate under the separate taxation regime;
- in cases of withdrawal following termination of employment for reasons dependent on the will of the parties (resignation, individual dismissal, end of fixed-term contract, etc.) contributions from 01/01/2001 to 31/12/2006 are taxed with marginal IRPEF rate under the provisional taxation regime.
Fondapi, as a withholding agent, automatically makes the required withholdings when disbursing benefits. These withholdings are in some cases final, in other cases provisional and require adjustment through the tax return.
