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FAQ

Membership

Are doubts and questions about membership overwhelming you? With Fondapi, there are no secrets. Delve into the topic by reading the answers to the most frequently asked questions.
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Contribution

How, and more importantly, how much should you contribute to the fund? There is no right answer, but we certainly have some useful advice. Read our focus articles to discover the solution that best suits your needs.
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Investment Options

Three investment options for three stages in a member’s life. It may seem complicated to identify them, but it really isn’t. We have answered some questions that might help you navigate this choice. Happy reading!
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Advances

But if I contribute my money to the Fund, can I retrieve it? Of course, yes. Advances are the first example of this possibility. Let’s explore this together!
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Redemptions

And here is the second way to request the accrued position from the Fund. Discover the clauses and how to submit the application simply and quickly.
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Transfers

And if I change jobs? We are often asked this type of question, which is why we have gathered some that can be considered similar.
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Taxes and Taxation

A usually sensitive topic, but we like to address it with the utmost serenity and transparency, no secrets. We have gathered some reflections and insights, now available for you.
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Costs

Low costs and advantageous options. We discuss this extensively, but a reminder is always useful. In the following section, you will find some interesting information, directly from the questions we are asked every day.
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Guarantees

Complementary Pension is a guarantee for your future, but we have also thought of guarantees for your present as a member.

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Reserved Area

Maximum customization thanks to the reserved area: you can check your position and the progress of your savings. What are you waiting for? Access now!
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FAQ

Pension fund enrollment

General

Check your employment letter to see which CCNL (National Collective Labor Agreement) governs your employment relationship with the company. You can find the CCNLs that include Fondapi as a category fund on the “What is Fondapi” page. If you can’t find the employment letter or it doesn’t mention the CCNL, you can ask the personnel administration or one of your colleagues.

No, it’s not necessary. You can join Fondapi even without being a member of a union.

If you enroll by filling out the online enrollment form, we will notify your company that you have initiated the enrollment process. If, however, you choose to fill out the paper form, you will need to take the form to the company and have them complete, stamp, and sign page 4.

No. If you have decided to enroll, the company is obliged to respect your decision. Enrollment is provided for, protected, and regulated by the CCNL applied by the company. Refusing your enrollment would therefore constitute a violation of the contract.

Processing times

Yes. To proceed with the enrollment, it is necessary to send the original form with your handwritten signatures.

After receiving the form, Fondapi takes between 3 and 7 days to process it.
Once your enrollment application is accepted, you will receive a welcome email with an attached “Welcome Letter” containing instructions and access codes for the Reserved Area.

Completion

Yes. If you already have a pension fund, you must communicate this in the appropriate space and attach the “Costs” sheet of that fund signed on each page. This is required by the pension fund supervisory authority (COVIP) to ensure that you are aware of the costs of your previous fund and can compare them with Fondapi’s costs.

ATTENTION: Declaring that you already have a pension fund does not initiate a transfer request. If you want to request a transfer, visit the appropriate section below.

If you join Fondapi, you must pay at least the TFR (severance pay). It is therefore not possible to join without paying the TFR. In addition to the TFR, you can add a voluntary contribution on your part, which entitles you to an additional contribution from the company.

FAQ

Contribution

General

To change the contribution rate or suspend your own contributions (being aware that suspension results in the loss of the right to recognition of the employer’s contribution) it is necessary to print, complete and send the original request form for “contribution rate variation” or “contribution suspension” to Fondapi, available on the website www.fondapi.it in the “forms” section. The member has the right to request at any time to modify or suspend their contribution rate in the indicated manner. It is not possible to vary the rate below the minimum value provided by the reference contract (see the information note where the minimum rates for each contract are specified).

Fondapi transmits the periodic communication every year. We note that the “Periodic communication to members” has no tax relevance but is only informational. For the 730 you must present the CU provided by the employer, in which the company reports the contributions paid to supplementary pension schemes (in this case paid to Fondapi) which must simply be transcribed in the box indicated in form 730, if submitted. Each month in the payslip, contribution payments to Fondapi are deducted and therefore reduce the taxable income on which you pay IRPEF; in this way you are granted a tax advantage during the accumulation phase.

One-time contributions

Yes, it is possible. In technical terms, this is a “one-time contribution“. To make it, you just need to follow the procedure from the Reserved Area. You must go to the “CONTRIBUTIONS” section and click on “make a voluntary payment“. Finally, execute the bank transfer as indicated on screen.

Certainly, if the total of all payments made to Fondapi during the year, excluding only amounts attributable to TFR, do not exceed 5,164.57 euros annually or even 7,746.86 euros annually for workers hired after January 1, 2007 as detailed in the following circular from the Revenue Agency: Instructions. Once the direct payment (without going through the employer) to Fondapi has been made, the Pension Fund will transmit the payment details to the Tax Registry. In this way, the worker who has made a voluntary payment will find this payment directly in the pre-filled Form 730 for the relevant tax year; in any case, should the member need to download the Tax Certification attesting to the payment made, it will be sufficient to access their Reserved Area and go to the “DOCUMENTS” section.
In the case where the one-time payment is made through the employer, it will be the employer’s responsibility to include the payment in the CU relating to employment income for the reference year.

No, but it must be considered that if all contribution items paid during the year to Fondapi – excluding amounts accrued as TFR – exceed the deductibility thresholds, it will be necessary to communicate the excess portion to Fondapi.

INPS Guarantee Fund

You can resort to the INPS guarantee fund.

A specific Guarantee Fund has been established at INPS, whose intervention procedures are governed by INPS Circular No. 23 of February 22, 2008 (forms available on the website www.inps.it). This fund replaces the employer in paying TFR, employee and employer contributions to the Pension Fund when insolvency situations occur related to bankruptcy procedures such as bankruptcy, preventive agreement, compulsory administrative liquidation, extraordinary administration.
All those who have an open position in the Fund can therefore obtain reimbursement of amounts not paid by the employer if one of the indicated events occurs.

You must ask Fondapi to complete the PPC/FOND form or SR98 form by mail, email or fax.

You must attach to the request the PPC/CUR form that you will have obtained from the bankruptcy trustee or the application for inclusion in liabilities with the related admission to the passive state.

PPC/CUR, if you have it in your possession.
The PPC/CUR form is obtained from the bankruptcy trustee. or
the application for inclusion in liabilities with the related admission to the passive state.
or, alternatively, complete in all parts the SELF-CERTIFICATION FORM available on the website.
With it you declare that the periods indicated by INPS correspond to those in which you were enrolled in Fondapi.

Previous TFR

Yes, in agreement with the company you can do it. To implement this intention it will be necessary to print and transmit to Fondapi the “Previous TFR Transfer” form which must be completed and signed by both the worker and the company. It will then be the company’s responsibility to pay Fondapi the contributions indicated in the form according to the operational procedures provided by the Fund.

Performance bonus

Among the privileges of supplementary pension members is the possibility of paying the production bonus directly to their pension fund. This operation, in addition to increasing one’s supplementary pension with an additional salary item, also presents enormous tax advantages:
1. Increased tax deductibility: the performance bonus paid to the pension fund is deductible up to €3,000 in addition to the ordinary ceiling of €5,164.57 per year.
2. Tax exemption of the bonus: performance bonuses paid to pension funds have zero taxation at the time of supplementary pension benefits.
3. Savings on contributory tax: when the performance bonus is converted directly into money, the company has the obligation to pay a contribution to INPS equal to 9.19% for pension purposes. If the bonus is paid directly to the pension fund, the company is exempt from this contribution.

Other

Contributions are always included in the payslip.
The items are: “employee contribution Fondapi”, “company contribution Fondapi” and “TFR share to funds”.
Furthermore, Fondapi provides members with a Reserved Area where they can verify the contributions that the company makes on their behalf. The member can thus verify that what is written in the payslip is then actually paid

Fondapi through a periodic procedure solicits non-compliant companies to fulfill their required obligations. The company that joins Fondapi, furthermore, when accessing the payroll submission program, reads on the first page all the anomalies recognized by the system. The member is required to verify the correspondence between the amounts withheld for pension purposes and those paid by checking the data entered in the payslip. So if you have doubts, ask your company. If the answer does not satisfy you, try to make comparisons with other colleagues enrolled in Fondapi, and if you still have doubts, contact the representatives for advice.

Contributions are normally paid bimonthly. Fondapi requires companies to pay by no later than the third week of every odd month. If you have recently enrolled and still do not see your first contribution, do not be alarmed, it could be normal. Check that it is reported in your payslip and check again after a few weeks.

FAQ

Investment Compartments

General

Compartments are investment lines with different risk and return profiles that Fondapi makes available to its members. Each compartment is designed to meet the needs of a macro group of members with similar characteristics. Members’ contributions will be invested in the compartment they indicate when joining.

The compartments are classified according to the following categories:
guaranteed – which offer a guarantee of return of the capital invested upon the occurrence of certain events;
bond (pure and/or mixed) – depending on whether they invest exclusively or mainly in bonds;
equity invest only or mainly in stocks;
balanced which generally invest in stocks and bonds in the same percentage.

The Guarantee compartment of Fondapi is a guaranteed compartment.
The Prudent compartment is a mixed bond compartment.
The Growth compartment is a balanced compartment.

For more details, visit the dedicated page!

You can find all the detailed information in the Information Note, in the section “Investment options“.
The document is available in the website section “Documentation and Regulations”

Unit Value

The unit value is the price of the units held by Fondapi. This price varies from month to month based on the performance of the securities present in each investment compartment.

What is it used for?
It is used to value and transform into a return the sums that Fondapi members pay into their position. In particular, with the contributions received, Fondapi purchases a certain number of units (based on their value) which it then redistributes to all members in proportion to how much each has paid.

The unit value of each compartment is published monthly around the middle of the month.
The last published value always refers to the previous month.
For example, the July unit value is calculated and made public in August.

Financial Management

The financial managers are chosen by Fondapi through a public tender. Their performance is constantly monitored and if the manager’s performance does not meet expectations, Fondapi has the possibility to “dismiss” them by calling a new public tender.

Fondapi’s managers are:
PIMCO Europe GmbH
BNP PARIBAS ASSET MANAGEMENT FRANCE
EURIZON CAPITAL SGR
DWS INT GMBH
UNIPOLSAI Assicurazione spa with delegation for the equity part to J.P.Morgan A. MGMT Ltd
Each manager specializes in certain asset classes.

The equity investment strategy is defined for each individual compartment in conjunction with the setting of the investment policy.
At this stage, the average horizon of members’ stay in the compartment and the different risk profile to be attributed to each compartment are also defined. Based on this liability analysis, the mix of various asset classes is defined, taking into account the contribution that each individual component, particularly the equity component, can make to achieving adequate results in relation to the compartment’s objectives.
The asset allocations thus defined are evaluated based on an analysis that aims to verify that the financial time horizons of each compartment, necessary to achieve the target return objectives, are compatible with the time horizons of the liabilities. The investment policy is subject to an adequacy review at least every three years or whenever deemed necessary.

For more details, please view the document:
Equity investment strategy available on the “Documentation and regulations” page.

For details, we recommend you to view the “Investment options” Sheet in the “Documentation and regulations” section of the website.
For each compartment, the benchmarks, geographical areas, and asset allocation are specified.

Compartment Choice

Certainly. You can change the compartment once every 12 months.
To modify your investment choice, go to your Reserved Area in the “INVESTMENT” section.
Here is the complete guide: Guide to changing the compartment.

The choice of compartment at the time of joining is free.
The first compartment change is free.
From the second change onwards, a cost of €10 is applied. The sum is automatically deducted from the member’s total amount. You don’t need to, and are not required to, proceed with any type of manual payment.

The new choice is automatically registered. For the actual change, however, you must wait for the publication of the unit value for the month of the request.
N.B. Compartment changes made by the 15th of the month take the unit value of the same month.

For example: a compartment change requested by January 15 will be formally concluded in the second half of February with the publication of the January unit value.
A compartment change requested on January 16 will be processed with the February unit value, which will only be available in the second half of March.

Other

Yes. When choosing the pension fund and the investment compartment, you should also consider the costs of financial management. Although they are not directly charged to the member (for clarification see the Costs section of the support), they still have an effect on the compartment’s returns.

The pension fund supervisory body (COVIP) estimates that an ISC (Synthetic Cost Indicator) of 2% instead of 1% can reduce the accumulated capital after 35 years of participation by about 18% (for example, it reduces it from €100,000 to €82,000).

Yes. Fondapi, both within the Reserved Area and within the public site, shows the value of returns net of management costs and tax on returns.

No. Fondapi currently does not allow the division of the position across multiple compartments simultaneously.

FAQ

Advances

General

You must have eight years of enrollment in supplementary pension schemes for first home purchase, first home renovation, or additional unspecified needs, while you can request an advance for serious medical expenses even before eight years.

In the Reserved Area, in the “PERSONAL DETAILS” section, you can find the date of your first enrollment in supplementary pension schemes. Additionally, if you go to the “ADVANCES” section, you can see for which reasons you can request an advance and

No! Remember that for any of the 4 reasons, the amount you request must be at least €1000 or more. Fondapi does not provide advances for requests below this amount. The amount you wish to request must be documented as specified in the document on advances that you can find on the website in the –Forms section.

Within and no later than 90 days from the date of receipt of the request, complete with all necessary documentation. If the request is incomplete, the 90-day term will start from when it is completed.

In this case, your request remains suspended until the finance company provides clearance, and the 90-day term will start from the date the Fund receives the finance company’s response. For more information, read our article.

Certainly, reinstatement is provided for by law and is fiscally advantageous. Read the detailed instructions on advances in the “tax document” available in the forms section of the website.

Up to 75% of the accrued position at the time of the request. Remember that this percentage is gross, and you must consider that 23% tax will be applied to it, which Fondapi will pay to the tax authorities on your behalf. Then Fondapi will issue you the CUD (tax certification).

Up to a theoretical 75% of the accrued position at the time of the request. Remember that the requested amount must be verified with the actually documented amount, and that this percentage is gross. You must consider that 15% tax will be applied to it (if you enrolled after 2007), which Fondapi will pay to the tax authorities on your behalf. Then Fondapi will issue you the CUD, which will be sent to you later.

You can request up to 30% of the accumulated position at the time you submit the request. Remember that this percentage is gross and that a 23% tax will be applied to it, which Fondapi will pay to the tax authorities on your behalf. Then Fondapi will send you the CUD.

Different documents are required based on the type of advance you are requesting. You can find the details in the “Document on advances” available on the fondapi.it website page “Documentation and regulations“. The request must be made exclusively online through the Reserved Area. At the end of the process, you will immediately see a confirmation receipt of Fondapi’s reception with a summary of all the data you entered. You should NOT print or send this receipt to Fondapi, but you may keep it for your own records if you wish.

FAQ

Redemptions and pension benefits

General

Total redemption from the pension fund is the closure and liquidation of 100% of the individual position accrued in the pension fund before reaching retirement requirements. Fondapi also allows the possibility of partial redemption (80%).
These two types of redemption involve the early termination of the supplementary pension plan and can be requested when certain conditions occur, such as dismissal, resignation, etc…

The pension benefit, on the other hand, can be requested from the retirement date and provides, among other things, access to preferential taxation between 15% and 9%.

Based on the type of benefit requested, the amount you have accumulated will be subject to two main types of taxation.

REDEMPTIONS BEFORE RETIREMENT
23%

RETIREMENT LIQUIDATIONS
Between 15% and 9%

In some particular and serious situations, it is possible to access the pension fund before retirement with preferential taxation between 15% and 9%. These cases are:
– Unemployment exceeding 4 years;
– Disability exceeding 2/3;
– Death.

To determine the exact percentage between 15% and 9%, consecutive years of enrollment in supplementary pension are counted.
After the fifteenth year, you receive a 0.3% tax reduction each year.

N.B: If you have severance pay and contributions made before 2007, these will be subject to ordinary taxation regardless of the type of benefit.

A summary chart of benefits provided by Fondapi with their respective legal taxation rates is available here.

If your new company applies a different CCNL than those that provide for Fondapi, you can request total or partial redemption if you wish.

Keep in mind, however, that with the total redemption request, you interrupt the count of enrollment years useful for obtaining more advantageous taxation at retirement.

Fondapi therefore recommends considering either transferring to the new category fund or maintaining the existing position.

Yes, you can request redemption from your position directly from the Reserved Area.

Making this choice greatly speeds up the process and avoids having to physically send the paper form with original signatures.

Moreover, since it’s a guided procedure, it’s much harder to make compilation errors.

Request made by the member:
in this case, Fondapi must first request a release or settlement calculation from the finance company. If the member still has outstanding debt to the finance company, it has the right to access the member’s pension position to settle its credit. Once settled, any remaining amount in the pension fund is paid to the member.

Request made by the finance company: in this case, the finance company itself, not seeing its credit settled, proceeds with the redemption request to settle the debt.
In this case, if the member has granted this right to the finance company, the Fund is obligated to comply with its request.
In this latter case, the various alternatives regarding the remaining shares still present in the fund will be explained to the recipient.

For more information: Salary-backed loans: advantages and disadvantages.

Redemptions before retirement

You can redeem totally or partially (at your discretion) if you are in one of these situations:
– Individual dismissal;
– Resignation;
– Fixed-term contract end;
– Company changes CCNL;
– Appointment as manager;
– Collective dismissal/mobility;
– Company bankruptcy;

A summary chart of benefits provided by Fondapi with their respective legal taxation rates is available here.

No. Fondapi does not apply penalties for redemption before retirement.

You must attach:
– copy of your identity document;
– Historical C2 (issued by your region’s employment center (only necessary if the company hasn’t uploaded your contribution status change to the system);
– Bank attestation that the bank account holder is actually the member (a screenshot or document with account details including IBAN and account holder name is sufficient).

Remember that from the Reserved Area (PERSONAL DETAILS section) you can always verify if your company has communicated the termination of your employment relationship.
If they haven’t already communicated it, ask them to do so quickly.

The methods are indicated in the header of the first page of each form.
Remember that if you use the online redemption feature from the Reserved Area, you don’t need to send the form as your request will be immediately entered into the system

From receipt of complete and correct documentation, it takes on average 70-80 days.

Pension benefits

No. The right to preferential taxation between 15% and 9% is only available to members with more than 5 years of enrollment in supplementary pension.

In any case, for redemption, you can wait until the fifth year and thus obtain the preferential taxation of 15%.

If you wish, you can remain enrolled and not proceed with the liquidation request.

Additionally, each year you can decide to contribute with voluntary payments from your bank account to benefit from tax deductibility up to €5,164.
Keep in mind that Fondapi will continue to apply the usual management and membership costs.
At any time, by submitting an appropriate request, you can ask for retirement liquidation.

No. To submit an application, you must already be retired. Therefore, you must wait until the day after retirement.

You must attach:
– copy of your identity document;
– ECOCERT or, alternatively, the TE08 form also issued by INPS;
– Bank attestation that the bank account holder is actually the member (a screenshot or document with account details including IBAN and account holder name is sufficient).

The amount you will receive will already be net of IRPEF substitute tax.

Pension benefits must be paid in capital, according to current value, up to a maximum of 50%;
the remaining part must be paid as an annuity.

Only in two cases is it possible to request 100% payment in capital form:
if the person was enrolled in supplementary pension before April 29, 1993 (old members) pursuant to Art.23 of Legislative Decree 252/2005 or
if the annuity derived from converting at least 70% of the final amount is less than 50% of the social allowance.
This means that below certain amounts, it is still possible to request liquidation in capital form.

For simplicity, we have calculated these thresholds. You can find them HERE: Capital liquidation threshold table.

Fondapi offers different types of annuities.
You can find them explained here: Document on annuities.

If you want to simulate the options that Fondapi offers, you can use the annuity simulator at this link.

R.I.T.A

The Temporary Early Supplementary Annuity (or RITA) consists of fractional payments recognized by the pension fund before reaching retirement age, in the presence of certain requirements.
This benefit protects the member in case of employment termination, for the period between the request and the achievement of the age required for old-age pension.

Specifically, RITA is a very useful tool for workers who:
lose their job a few years before retirement age;
need financial support during a phase of life when they are difficult to reemploy in the job market.

You can request RITA exclusively if you meet certain requirements, which we indicate below:
(1) termination of employment;
(2) at least 20 years of contribution history, referring to contributions paid to mandatory social security (INPS or professional funds);
(3) the age for old-age pension must be reached within 5 years following employment termination;
(4) more than 6 months must remain before obtaining pension requirements; (5) participation in any form of supplementary pension, therefore including a pension fund, for at least 5 years.

RITA also applies to workers who have been unemployed for more than 24 months and are no more than 10 years away from old-age pension, according to their mandatory pension scheme.

Along with the form you must send:
Copy of a valid identity document;
Certification issued by INPS proving possession of at least 20 years of contribution requirements in mandatory schemes if requesting RITA in the 5 years before meeting old-age pension requirements;
Attestation of unemployment period exceeding 24 months (for example, employment center certification), if requesting RITA in the 10 years before meeting old-age pension requirements.

FAQ

Transfers

General

Yes, if you have changed jobs and the new CCNL (National Collective Labor Agreement) has Fondapi as its category fund, you can ask your old fund to transfer your capital to Fondapi.

If your old fund is a category fund and you want to change because the new company applies a different CCNL that provides for Fondapi, you can request the transfer immediately.

However, if your old fund is an open fund or a P.I.P (Individual Pension Plan), you must wait at least 2 years from the opening of the open fund/P.I.P to request the transfer.

Fondapi does not apply any type of commission to “incoming” transfers.

However, the fund you are transferring to Fondapi might apply commissions or deductions on the movement. For details, always check the “Costs” section of the other fund.
If you don’t know where to find it, you can search for it here!

No. Before requesting the transfer of your old fund, you must join. Only after we have notified you of the successful enrollment can you execute the transfer to Fondapi.

No. They are not lost. With the transfer, your old fund provides us, in addition to the money transfer, all relevant information about your history with them. We will, therefore, be informed of your first enrollment date and will update your personal data accordingly.

Certainly. First, you must enroll in the new fund, then you can request the transfer to it.

Remember that if you request the transfer before enrolling, the new fund will deny the transfer authorization and you will have to repeat the procedure from the beginning.

In the “all forms” section of the fondapi.it website, there is a link to access the transfer request.
To help you fill it out, instructions are provided behind the form.

It will be completed within a maximum of 6 months from the date on which Fondapi received a suitable transfer request. It is essential that before requesting the transfer to Fund A, you enroll in Fund B to which you want to transfer the funds, otherwise the procedure will take longer than necessary because the Funds will wait for your regularization with Fund B!

No. If you have remained pleased and satisfied with our management, you can keep Fondapi open and not necessarily proceed with the transfer. You can evaluate making this operation at a later time, when you deem it more appropriate.

However, consider that if you want to continue your path with supplementary pension, you will still have to enroll in the new fund. As Fondapi is a closed fund, we cannot receive payments from companies that do not apply one of the provided CCNLs.

As long as you think you need. In the meantime, we will continue to manage your position normally.

FAQ

Tax and Taxation

ISEE

To obtain the ISEE, data on the income of all family members for the second year prior to the request must be provided. The pension position with Fondapi (or other funds) does NOT fall among the data to be provided.

Yes, this is the only case! Once retirement is reached, the member who has opted for the pension benefit in annuity form must report “supplementary pension benefits paid in annuity form included in the amount accrued from January 1, 2007” in section FC8 of the DSU (Income, benefits and expenses). The INPS instructions for completing the DSU then specify that “Benefits paid by pension funds in lump sum form must not be indicated“.

Form 730

If during the past year you did not make payments directly from your bank account, you just need to provide the Unified Certification that your company gave you around March.

Certainly, if the total of all payments made to Fondapi during the year, excluding only amounts attributable to TFR, do not exceed 5,164.57 euros annually or even 7,746.86 euros annually for workers hired after January 1, 2007 as detailed in the following circular from the Revenue Agency: Instructions. Once the direct payment (without going through the employer) to Fondapi has been made, the Pension Fund will transmit the payment details to the Tax Registry. In this way, the worker who has made a voluntary payment will find this payment directly in the pre-filled Form 730 for the relevant tax year; in any case, should the member need to download the Tax Certification attesting to the payment made, it will be sufficient to access their Reserved Area and go to the “DOCUMENTS” section.
In the case where the one-time payment is made through the employer, it will be the employer’s responsibility to include the payment in the CU relating to employment income for the reference year.

No, but it must be considered that if all contribution items paid during the year to Fondapi – excluding amounts accrued as TFR – exceed the deductibility thresholds, it will be necessary to communicate the excess portion to Fondapi.

Taxation

Pension benefits accrued from January 1, 2007 are taxed with a single rate that will be at most 15%, but can drop to a minimum of 9%. In fact, starting from the date of first enrollment, for each year of enrollment after the fifteenth, the member is entitled to a tax discount equal to 0.3%.
For example, if the member retires in the sixteenth year of enrollment, the IRPEF taxation will be equal to 14.7%.

No. Returns are already taxed year by year and, therefore, at the time of payment of the pension benefit, these will be paid without further taxation. Fondapi also shows the value of returns net of taxation within the reserved area.

Tax Deduction

Yes, contributions paid to the pension fund on behalf of a family member fall within the maximum deductibility limit of €5,164.57 for the same member.
ATTENTION: the deductibility limit always remains €5,164.57.

Payments directly withheld from payroll as employee contributions and additional company payments as company contributions are directly deducted in the reference month of the payroll. This allows the worker to immediately take advantage of the tax benefit.

Performance bonus

Among the privileges of those enrolled in supplementary pension schemes is the possibility of paying the productivity bonus directly to their pension fund. This operation, in addition to increasing one’s supplementary pension with an additional salary component, also presents enormous tax advantages:
1. Increased tax deductibility: the performance bonus paid to the pension fund is deductible up to €3,000 in addition to the ordinary ceiling of €5,164.57 per year.
2. Tax exemption of the bonus: performance bonuses paid to pension funds have zero taxation at the time of the supplementary pension benefit.
3. Savings on contributory tax: when the performance bonus is converted directly into cash, the company is obligated to pay a contribution to INPS equal to 9.19% for pension purposes. If the bonus is paid directly to the pension fund, the company is exempt from this contribution.

FAQ

Costs

General

Fondapi applies a membership fee of €22 per year to each member. Additionally, a one-time payment of the registration fee of €11.60 is required only at the time of joining. The registration fee is divided, according to the national collective labor agreement, between the member and the companies. For details, see the “Cost Sheet” available in the “documentation and regulations” section of the fondapi.it website.

No. Fondapi does not apply any fees to the contributions it receives.

Every two months, Fondapi makes small automatic deductions from the contributions made by the company. The total of these deductions over the year is €22.
The member does not (and cannot) manually pay the membership fee.

You can find the list of all Fondapi costs in the “Cost Sheet” available in the “documentation and regulations” section of the fondapi.it website.
This document is subject to the supervision of the pension fund regulatory authority (COVIP) and is prepared by each fund in the same manner. This makes it easier for you to compare Fondapi’s costs with other supplementary pension schemes.

Fondapi is a non-profit institution, therefore, it does not aim for profit.

The indirect costs borne by the member are the management fees applied by Fondapi’s financial managers to the pool of contributions they manage.

Yes. If you stop making contributions, Fondapi will apply deductions as a membership fee until you request redemption.

FAQ

Guarantees

Section under construction

This section is currently under construction.
Thank you for your patience!

Fondapi applies a membership fee of €22 per year to each member. Additionally, a one-time payment of the registration fee of €11.60 is required only at the time of joining. The registration fee is divided, according to the national collective labor agreement, between the member and the companies. For details, see the “Cost Sheet” available in the “documentation and regulations” section of the fondapi.it website.

No. Fondapi does not apply any fees to the contributions it receives.

Every two months, Fondapi makes small automatic deductions from the contributions made by the company. The total of these deductions over the year is €22.
The member does not (and cannot) manually pay the membership fee.

You can find the list of all Fondapi costs in the “Cost Sheet” available in the “documentation and regulations” section of the fondapi.it website.
This document is subject to the supervision of the pension fund regulatory authority (COVIP) and is prepared by each fund in the same manner. This makes it easier for you to compare Fondapi’s costs with other supplementary pension schemes.

Fondapi is a non-profit institution, therefore, it does not aim for profit.

The indirect costs borne by the member are the management fees applied by Fondapi’s financial managers to the pool of contributions they manage.

Yes. If you stop making contributions, Fondapi will apply deductions as a membership fee until you request redemption.

FAQ

Reserved Area

General

  • If you no longer remember your password and want to recover it, you must first connect to the page dedicated to password recovery. The link is also available within the yellow box reserved for access.
  • On the page that opens, you need to enter your tax code and your registration number with Fondapi (the registration number can be found on the welcome letter received upon enrollment or on the periodic communication that the Fund sends to its members each year). Then click “CONTINUE“.
  • After clicking “CONTINUE“, a summary screen opens where you can enter your mobile phone number to receive the new password via SMS.
    Check that the mobile number entered is correct and then click “SEND“.

Before explaining how to recover your Fondapi password if you do NOT know your registration number, we remind you that the FONDAPI registration number is printed on the welcome letter sent at the time of enrollment with the Fund and in the communications that Fondapi periodically sends to members. It is generally found in the “Your data” section.

  • If you no longer remember, or cannot recover, your registration number, you must first connect to the page dedicated to password recovery. The link is also available within the yellow box reserved for access.
  • First, you need to enter your tax code. Then click on “Have you forgotten your registration number“. Finally, click on “CONTINUE“.
  • After clicking “CONTINUE“, a summary screen opens where you can enter your mobile phone number to receive the new password via SMS.
    Check that the mobile number entered is correct.
  • Now you need to upload a valid identity document (front and back) to the system: click on “Browse file”, select the document from your PC and then click “SEND“.
  • The SMS will be sent after verification of the identity document, therefore the operation may take up to 24 hours. For this reason, we recommend searching carefully and keeping your registration number extremely safe.

To ensure the highest security standards, Fondapi will introduce OTP (One Time Password) technology to access the workers’ Reserved Area. The code will be required when accessing your area and every time the Member wants to perform an online operation. However, there is the possibility to access in consultation-only mode without having to use OTP. In this case, however, it will not be possible to perform operations. The Member will only be able to check the position performance and contribution status.

Why?

News about password and personal data theft is, unfortunately, commonplace. For Fondapi, it is a priority to protect and safeguard your savings. The adoption of the OTP system works in this direction! In fact, this temporary password, already adopted by numerous and important entities, allows you to raise the security of your online account to the highest levels.

How Will OTP Work?

The access methods in the first phase remain the same. The Member must enter their tax code and password. Immediately after, they will be asked to generate the OTP code through their smartphone, with the Fondapi App installed, to enter in the appropriate field. After entering it, the Member will have full access to their Area and will be able to perform all operations. For each operation, a new OTP code will be required, always generated through the Fondapi App installed on their phone.

How to Set up OTP to Access the Reserved Area

  1. First, you need to download the Fondapi App on your smartphone.
    Here is the link for iOS – iPhone.
    Here is the link for Android.
  2. Once the App is downloaded, you need to log in (entering tax code and password);
  3. After logging in, you need to register the device.
    Clicking on the three lines at the top left opens a menu.
    Click the first item “Register device”.
  4. Follow the guided procedure, setting a PIN and, if the phone is enabled, biometric recognition (face recognition).
  5. Finally, confirm the PIN by clicking on “Register this device”.
  6. Done! Now the device is correctly registered. When you need to perform an operation, you just need to generate an OTP code from the App and confirm what you have arranged.

DOWNLOAD THE GUIDE

FAQ

Pension fund enrollment

General

Check your employment letter to see which CCNL (National Collective Labor Agreement) governs your employment relationship with the company. You can find the CCNLs that include Fondapi as a category fund on the “What is Fondapi” page. If you can’t find the employment letter or it doesn’t mention the CCNL, you can ask the personnel administration or one of your colleagues.

No, it’s not necessary. You can join Fondapi even without being a member of a union.

If you enroll by filling out the online enrollment form, we will notify your company that you have initiated the enrollment process. If, however, you choose to fill out the paper form, you will need to take the form to the company and have them complete, stamp, and sign page 4.

No. If you have decided to enroll, the company is obliged to respect your decision. Enrollment is provided for, protected, and regulated by the CCNL applied by the company. Refusing your enrollment would therefore constitute a violation of the contract.

Processing times

Yes. To proceed with the enrollment, it is necessary to send the original form with your handwritten signatures.

After receiving the form, Fondapi takes between 3 and 7 days to process it.
Once your enrollment application is accepted, you will receive a welcome email with an attached “Welcome Letter” containing instructions and access codes for the Reserved Area.

Completion

Yes. If you already have a pension fund, you must communicate this in the appropriate space and attach the “Costs” sheet of that fund signed on each page. This is required by the pension fund supervisory authority (COVIP) to ensure that you are aware of the costs of your previous fund and can compare them with Fondapi’s costs.

ATTENTION: Declaring that you already have a pension fund does not initiate a transfer request. If you want to request a transfer, visit the appropriate section below.

If you join Fondapi, you must pay at least the TFR (severance pay). It is therefore not possible to join without paying the TFR. In addition to the TFR, you can add a voluntary contribution on your part, which entitles you to an additional contribution from the company.

FAQ

Contribution

General

To change the contribution rate or suspend your own contributions (being aware that suspension results in the loss of the right to recognition of the employer’s contribution) it is necessary to print, complete and send the original request form for “contribution rate variation” or “contribution suspension” to Fondapi, available on the website www.fondapi.it in the “forms” section. The member has the right to request at any time to modify or suspend their contribution rate in the indicated manner. It is not possible to vary the rate below the minimum value provided by the reference contract (see the information note where the minimum rates for each contract are specified).

Fondapi transmits the periodic communication every year. We note that the “Periodic communication to members” has no tax relevance but is only informational. For the 730 you must present the CU provided by the employer, in which the company reports the contributions paid to supplementary pension schemes (in this case paid to Fondapi) which must simply be transcribed in the box indicated in form 730, if submitted. Each month in the payslip, contribution payments to Fondapi are deducted and therefore reduce the taxable income on which you pay IRPEF; in this way you are granted a tax advantage during the accumulation phase.

One-time contributions

Yes, it is possible. In technical terms, this is a “one-time contribution“. To make it, you just need to follow the procedure from the Reserved Area. You must go to the “CONTRIBUTIONS” section and click on “make a voluntary payment“. Finally, execute the bank transfer as indicated on screen.

Certainly, if the total of all payments made to Fondapi during the year, excluding only amounts attributable to TFR, do not exceed 5,164.57 euros annually or even 7,746.86 euros annually for workers hired after January 1, 2007 as detailed in the following circular from the Revenue Agency: Instructions. Once the direct payment (without going through the employer) to Fondapi has been made, the Pension Fund will transmit the payment details to the Tax Registry. In this way, the worker who has made a voluntary payment will find this payment directly in the pre-filled Form 730 for the relevant tax year; in any case, should the member need to download the Tax Certification attesting to the payment made, it will be sufficient to access their Reserved Area and go to the “DOCUMENTS” section.
In the case where the one-time payment is made through the employer, it will be the employer’s responsibility to include the payment in the CU relating to employment income for the reference year.

No, but it must be considered that if all contribution items paid during the year to Fondapi – excluding amounts accrued as TFR – exceed the deductibility thresholds, it will be necessary to communicate the excess portion to Fondapi.

INPS Guarantee Fund

You can resort to the INPS guarantee fund.

A specific Guarantee Fund has been established at INPS, whose intervention procedures are governed by INPS Circular No. 23 of February 22, 2008 (forms available on the website www.inps.it). This fund replaces the employer in paying TFR, employee and employer contributions to the Pension Fund when insolvency situations occur related to bankruptcy procedures such as bankruptcy, preventive agreement, compulsory administrative liquidation, extraordinary administration.
All those who have an open position in the Fund can therefore obtain reimbursement of amounts not paid by the employer if one of the indicated events occurs.

You must ask Fondapi to complete the PPC/FOND form or SR98 form by mail, email or fax.

You must attach to the request the PPC/CUR form that you will have obtained from the bankruptcy trustee or the application for inclusion in liabilities with the related admission to the passive state.

PPC/CUR, if you have it in your possession.
The PPC/CUR form is obtained from the bankruptcy trustee. or
the application for inclusion in liabilities with the related admission to the passive state.
or, alternatively, complete in all parts the SELF-CERTIFICATION FORM available on the website.
With it you declare that the periods indicated by INPS correspond to those in which you were enrolled in Fondapi.

Previous TFR

Yes, in agreement with the company you can do it. To implement this intention it will be necessary to print and transmit to Fondapi the “Previous TFR Transfer” form which must be completed and signed by both the worker and the company. It will then be the company’s responsibility to pay Fondapi the contributions indicated in the form according to the operational procedures provided by the Fund.

Performance bonus

Among the privileges of supplementary pension members is the possibility of paying the production bonus directly to their pension fund. This operation, in addition to increasing one’s supplementary pension with an additional salary item, also presents enormous tax advantages:
1. Increased tax deductibility: the performance bonus paid to the pension fund is deductible up to €3,000 in addition to the ordinary ceiling of €5,164.57 per year.
2. Tax exemption of the bonus: performance bonuses paid to pension funds have zero taxation at the time of supplementary pension benefits.
3. Savings on contributory tax: when the performance bonus is converted directly into money, the company has the obligation to pay a contribution to INPS equal to 9.19% for pension purposes. If the bonus is paid directly to the pension fund, the company is exempt from this contribution.

Other

Contributions are always included in the payslip.
The items are: “employee contribution Fondapi”, “company contribution Fondapi” and “TFR share to funds”.
Furthermore, Fondapi provides members with a Reserved Area where they can verify the contributions that the company makes on their behalf. The member can thus verify that what is written in the payslip is then actually paid

Fondapi through a periodic procedure solicits non-compliant companies to fulfill their required obligations. The company that joins Fondapi, furthermore, when accessing the payroll submission program, reads on the first page all the anomalies recognized by the system. The member is required to verify the correspondence between the amounts withheld for pension purposes and those paid by checking the data entered in the payslip. So if you have doubts, ask your company. If the answer does not satisfy you, try to make comparisons with other colleagues enrolled in Fondapi, and if you still have doubts, contact the representatives for advice.

Contributions are normally paid bimonthly. Fondapi requires companies to pay by no later than the third week of every odd month. If you have recently enrolled and still do not see your first contribution, do not be alarmed, it could be normal. Check that it is reported in your payslip and check again after a few weeks.

FAQ

Investment Compartments

General

Compartments are investment lines with different risk and return profiles that Fondapi makes available to its members. Each compartment is designed to meet the needs of a macro group of members with similar characteristics. Members’ contributions will be invested in the compartment they indicate when joining.

The compartments are classified according to the following categories:
guaranteed – which offer a guarantee of return of the capital invested upon the occurrence of certain events;
bond (pure and/or mixed) – depending on whether they invest exclusively or mainly in bonds;
equity invest only or mainly in stocks;
balanced which generally invest in stocks and bonds in the same percentage.

The Guarantee compartment of Fondapi is a guaranteed compartment.
The Prudent compartment is a mixed bond compartment.
The Growth compartment is a balanced compartment.

For more details, visit the dedicated page!

You can find all the detailed information in the Information Note, in the section “Investment options“.
The document is available in the website section “Documentation and Regulations”

Unit Value

The unit value is the price of the units held by Fondapi. This price varies from month to month based on the performance of the securities present in each investment compartment.

What is it used for?
It is used to value and transform into a return the sums that Fondapi members pay into their position. In particular, with the contributions received, Fondapi purchases a certain number of units (based on their value) which it then redistributes to all members in proportion to how much each has paid.

The unit value of each compartment is published monthly around the middle of the month.
The last published value always refers to the previous month.
For example, the July unit value is calculated and made public in August.

Financial Management

The financial managers are chosen by Fondapi through a public tender. Their performance is constantly monitored and if the manager’s performance does not meet expectations, Fondapi has the possibility to “dismiss” them by calling a new public tender.

Fondapi’s managers are:
PIMCO Europe GmbH
BNP PARIBAS ASSET MANAGEMENT FRANCE
EURIZON CAPITAL SGR
DWS INT GMBH
UNIPOLSAI Assicurazione spa with delegation for the equity part to J.P.Morgan A. MGMT Ltd
Each manager specializes in certain asset classes.

The equity investment strategy is defined for each individual compartment in conjunction with the setting of the investment policy.
At this stage, the average horizon of members’ stay in the compartment and the different risk profile to be attributed to each compartment are also defined. Based on this liability analysis, the mix of various asset classes is defined, taking into account the contribution that each individual component, particularly the equity component, can make to achieving adequate results in relation to the compartment’s objectives.
The asset allocations thus defined are evaluated based on an analysis that aims to verify that the financial time horizons of each compartment, necessary to achieve the target return objectives, are compatible with the time horizons of the liabilities. The investment policy is subject to an adequacy review at least every three years or whenever deemed necessary.

For more details, please view the document:
Equity investment strategy available on the “Documentation and regulations” page.

For details, we recommend you to view the “Investment options” Sheet in the “Documentation and regulations” section of the website.
For each compartment, the benchmarks, geographical areas, and asset allocation are specified.

Compartment Choice

Certainly. You can change the compartment once every 12 months.
To modify your investment choice, go to your Reserved Area in the “INVESTMENT” section.
Here is the complete guide: Guide to changing the compartment.

The choice of compartment at the time of joining is free.
The first compartment change is free.
From the second change onwards, a cost of €10 is applied. The sum is automatically deducted from the member’s total amount. You don’t need to, and are not required to, proceed with any type of manual payment.

The new choice is automatically registered. For the actual change, however, you must wait for the publication of the unit value for the month of the request.
N.B. Compartment changes made by the 15th of the month take the unit value of the same month.

For example: a compartment change requested by January 15 will be formally concluded in the second half of February with the publication of the January unit value.
A compartment change requested on January 16 will be processed with the February unit value, which will only be available in the second half of March.

Other

Yes. When choosing the pension fund and the investment compartment, you should also consider the costs of financial management. Although they are not directly charged to the member (for clarification see the Costs section of the support), they still have an effect on the compartment’s returns.

The pension fund supervisory body (COVIP) estimates that an ISC (Synthetic Cost Indicator) of 2% instead of 1% can reduce the accumulated capital after 35 years of participation by about 18% (for example, it reduces it from €100,000 to €82,000).

Yes. Fondapi, both within the Reserved Area and within the public site, shows the value of returns net of management costs and tax on returns.

No. Fondapi currently does not allow the division of the position across multiple compartments simultaneously.

FAQ

Advances

General

You must have eight years of enrollment in supplementary pension schemes for first home purchase, first home renovation, or additional unspecified needs, while you can request an advance for serious medical expenses even before eight years.

In the Reserved Area, in the “PERSONAL DETAILS” section, you can find the date of your first enrollment in supplementary pension schemes. Additionally, if you go to the “ADVANCES” section, you can see for which reasons you can request an advance and

No! Remember that for any of the 4 reasons, the amount you request must be at least €1000 or more. Fondapi does not provide advances for requests below this amount. The amount you wish to request must be documented as specified in the document on advances that you can find on the website in the –Forms section.

Within and no later than 90 days from the date of receipt of the request, complete with all necessary documentation. If the request is incomplete, the 90-day term will start from when it is completed.

In this case, your request remains suspended until the finance company provides clearance, and the 90-day term will start from the date the Fund receives the finance company’s response. For more information, read our article.

Certainly, reinstatement is provided for by law and is fiscally advantageous. Read the detailed instructions on advances in the “tax document” available in the forms section of the website.

Up to 75% of the accrued position at the time of the request. Remember that this percentage is gross, and you must consider that 23% tax will be applied to it, which Fondapi will pay to the tax authorities on your behalf. Then Fondapi will issue you the CUD (tax certification).

Up to a theoretical 75% of the accrued position at the time of the request. Remember that the requested amount must be verified with the actually documented amount, and that this percentage is gross. You must consider that 15% tax will be applied to it (if you enrolled after 2007), which Fondapi will pay to the tax authorities on your behalf. Then Fondapi will issue you the CUD, which will be sent to you later.

You can request up to 30% of the accumulated position at the time you submit the request. Remember that this percentage is gross and that a 23% tax will be applied to it, which Fondapi will pay to the tax authorities on your behalf. Then Fondapi will send you the CUD.

Different documents are required based on the type of advance you are requesting. You can find the details in the “Document on advances” available on the fondapi.it website page “Documentation and regulations“. The request must be made exclusively online through the Reserved Area. At the end of the process, you will immediately see a confirmation receipt of Fondapi’s reception with a summary of all the data you entered. You should NOT print or send this receipt to Fondapi, but you may keep it for your own records if you wish.

FAQ

Redemptions and pension benefits

General

Total redemption from the pension fund is the closure and liquidation of 100% of the individual position accrued in the pension fund before reaching retirement requirements. Fondapi also allows the possibility of partial redemption (80%).
These two types of redemption involve the early termination of the supplementary pension plan and can be requested when certain conditions occur, such as dismissal, resignation, etc…

The pension benefit, on the other hand, can be requested from the retirement date and provides, among other things, access to preferential taxation between 15% and 9%.

Based on the type of benefit requested, the amount you have accumulated will be subject to two main types of taxation.

REDEMPTIONS BEFORE RETIREMENT
23%

RETIREMENT LIQUIDATIONS
Between 15% and 9%

In some particular and serious situations, it is possible to access the pension fund before retirement with preferential taxation between 15% and 9%. These cases are:
– Unemployment exceeding 4 years;
– Disability exceeding 2/3;
– Death.

To determine the exact percentage between 15% and 9%, consecutive years of enrollment in supplementary pension are counted.
After the fifteenth year, you receive a 0.3% tax reduction each year.

N.B: If you have severance pay and contributions made before 2007, these will be subject to ordinary taxation regardless of the type of benefit.

A summary chart of benefits provided by Fondapi with their respective legal taxation rates is available here.

If your new company applies a different CCNL than those that provide for Fondapi, you can request total or partial redemption if you wish.

Keep in mind, however, that with the total redemption request, you interrupt the count of enrollment years useful for obtaining more advantageous taxation at retirement.

Fondapi therefore recommends considering either transferring to the new category fund or maintaining the existing position.

Yes, you can request redemption from your position directly from the Reserved Area.

Making this choice greatly speeds up the process and avoids having to physically send the paper form with original signatures.

Moreover, since it’s a guided procedure, it’s much harder to make compilation errors.

Request made by the member:
in this case, Fondapi must first request a release or settlement calculation from the finance company. If the member still has outstanding debt to the finance company, it has the right to access the member’s pension position to settle its credit. Once settled, any remaining amount in the pension fund is paid to the member.

Request made by the finance company: in this case, the finance company itself, not seeing its credit settled, proceeds with the redemption request to settle the debt.
In this case, if the member has granted this right to the finance company, the Fund is obligated to comply with its request.
In this latter case, the various alternatives regarding the remaining shares still present in the fund will be explained to the recipient.

For more information: Salary-backed loans: advantages and disadvantages.

Redemptions before retirement

You can redeem totally or partially (at your discretion) if you are in one of these situations:
– Individual dismissal;
– Resignation;
– Fixed-term contract end;
– Company changes CCNL;
– Appointment as manager;
– Collective dismissal/mobility;
– Company bankruptcy;

A summary chart of benefits provided by Fondapi with their respective legal taxation rates is available here.

No. Fondapi does not apply penalties for redemption before retirement.

You must attach:
– copy of your identity document;
– Historical C2 (issued by your region’s employment center (only necessary if the company hasn’t uploaded your contribution status change to the system);
– Bank attestation that the bank account holder is actually the member (a screenshot or document with account details including IBAN and account holder name is sufficient).

Remember that from the Reserved Area (PERSONAL DETAILS section) you can always verify if your company has communicated the termination of your employment relationship.
If they haven’t already communicated it, ask them to do so quickly.

The methods are indicated in the header of the first page of each form.
Remember that if you use the online redemption feature from the Reserved Area, you don’t need to send the form as your request will be immediately entered into the system

From receipt of complete and correct documentation, it takes on average 70-80 days.

Pension benefits

No. The right to preferential taxation between 15% and 9% is only available to members with more than 5 years of enrollment in supplementary pension.

In any case, for redemption, you can wait until the fifth year and thus obtain the preferential taxation of 15%.

If you wish, you can remain enrolled and not proceed with the liquidation request.

Additionally, each year you can decide to contribute with voluntary payments from your bank account to benefit from tax deductibility up to €5,164.
Keep in mind that Fondapi will continue to apply the usual management and membership costs.
At any time, by submitting an appropriate request, you can ask for retirement liquidation.

No. To submit an application, you must already be retired. Therefore, you must wait until the day after retirement.

You must attach:
– copy of your identity document;
– ECOCERT or, alternatively, the TE08 form also issued by INPS;
– Bank attestation that the bank account holder is actually the member (a screenshot or document with account details including IBAN and account holder name is sufficient).

The amount you will receive will already be net of IRPEF substitute tax.

Pension benefits must be paid in capital, according to current value, up to a maximum of 50%;
the remaining part must be paid as an annuity.

Only in two cases is it possible to request 100% payment in capital form:
if the person was enrolled in supplementary pension before April 29, 1993 (old members) pursuant to Art.23 of Legislative Decree 252/2005 or
if the annuity derived from converting at least 70% of the final amount is less than 50% of the social allowance.
This means that below certain amounts, it is still possible to request liquidation in capital form.

For simplicity, we have calculated these thresholds. You can find them HERE: Capital liquidation threshold table.

Fondapi offers different types of annuities.
You can find them explained here: Document on annuities.

If you want to simulate the options that Fondapi offers, you can use the annuity simulator at this link.

R.I.T.A

The Temporary Early Supplementary Annuity (or RITA) consists of fractional payments recognized by the pension fund before reaching retirement age, in the presence of certain requirements.
This benefit protects the member in case of employment termination, for the period between the request and the achievement of the age required for old-age pension.

Specifically, RITA is a very useful tool for workers who:
lose their job a few years before retirement age;
need financial support during a phase of life when they are difficult to reemploy in the job market.

You can request RITA exclusively if you meet certain requirements, which we indicate below:
(1) termination of employment;
(2) at least 20 years of contribution history, referring to contributions paid to mandatory social security (INPS or professional funds);
(3) the age for old-age pension must be reached within 5 years following employment termination;
(4) more than 6 months must remain before obtaining pension requirements; (5) participation in any form of supplementary pension, therefore including a pension fund, for at least 5 years.

RITA also applies to workers who have been unemployed for more than 24 months and are no more than 10 years away from old-age pension, according to their mandatory pension scheme.

Along with the form you must send:
Copy of a valid identity document;
Certification issued by INPS proving possession of at least 20 years of contribution requirements in mandatory schemes if requesting RITA in the 5 years before meeting old-age pension requirements;
Attestation of unemployment period exceeding 24 months (for example, employment center certification), if requesting RITA in the 10 years before meeting old-age pension requirements.

FAQ

Transfers

General

Yes, if you have changed jobs and the new CCNL (National Collective Labor Agreement) has Fondapi as its category fund, you can ask your old fund to transfer your capital to Fondapi.

If your old fund is a category fund and you want to change because the new company applies a different CCNL that provides for Fondapi, you can request the transfer immediately.

However, if your old fund is an open fund or a P.I.P (Individual Pension Plan), you must wait at least 2 years from the opening of the open fund/P.I.P to request the transfer.

Fondapi does not apply any type of commission to “incoming” transfers.

However, the fund you are transferring to Fondapi might apply commissions or deductions on the movement. For details, always check the “Costs” section of the other fund.
If you don’t know where to find it, you can search for it here!

No. Before requesting the transfer of your old fund, you must join. Only after we have notified you of the successful enrollment can you execute the transfer to Fondapi.

No. They are not lost. With the transfer, your old fund provides us, in addition to the money transfer, all relevant information about your history with them. We will, therefore, be informed of your first enrollment date and will update your personal data accordingly.

Certainly. First, you must enroll in the new fund, then you can request the transfer to it.

Remember that if you request the transfer before enrolling, the new fund will deny the transfer authorization and you will have to repeat the procedure from the beginning.

In the “all forms” section of the fondapi.it website, there is a link to access the transfer request.
To help you fill it out, instructions are provided behind the form.

It will be completed within a maximum of 6 months from the date on which Fondapi received a suitable transfer request. It is essential that before requesting the transfer to Fund A, you enroll in Fund B to which you want to transfer the funds, otherwise the procedure will take longer than necessary because the Funds will wait for your regularization with Fund B!

No. If you have remained pleased and satisfied with our management, you can keep Fondapi open and not necessarily proceed with the transfer. You can evaluate making this operation at a later time, when you deem it more appropriate.

However, consider that if you want to continue your path with supplementary pension, you will still have to enroll in the new fund. As Fondapi is a closed fund, we cannot receive payments from companies that do not apply one of the provided CCNLs.

As long as you think you need. In the meantime, we will continue to manage your position normally.

FAQ

Tax and Taxation

ISEE

To obtain the ISEE, data on the income of all family members for the second year prior to the request must be provided. The pension position with Fondapi (or other funds) does NOT fall among the data to be provided.

Yes, this is the only case! Once retirement is reached, the member who has opted for the pension benefit in annuity form must report “supplementary pension benefits paid in annuity form included in the amount accrued from January 1, 2007” in section FC8 of the DSU (Income, benefits and expenses). The INPS instructions for completing the DSU then specify that “Benefits paid by pension funds in lump sum form must not be indicated“.

Form 730

If during the past year you did not make payments directly from your bank account, you just need to provide the Unified Certification that your company gave you around March.

Certainly, if the total of all payments made to Fondapi during the year, excluding only amounts attributable to TFR, do not exceed 5,164.57 euros annually or even 7,746.86 euros annually for workers hired after January 1, 2007 as detailed in the following circular from the Revenue Agency: Instructions. Once the direct payment (without going through the employer) to Fondapi has been made, the Pension Fund will transmit the payment details to the Tax Registry. In this way, the worker who has made a voluntary payment will find this payment directly in the pre-filled Form 730 for the relevant tax year; in any case, should the member need to download the Tax Certification attesting to the payment made, it will be sufficient to access their Reserved Area and go to the “DOCUMENTS” section.
In the case where the one-time payment is made through the employer, it will be the employer’s responsibility to include the payment in the CU relating to employment income for the reference year.

No, but it must be considered that if all contribution items paid during the year to Fondapi – excluding amounts accrued as TFR – exceed the deductibility thresholds, it will be necessary to communicate the excess portion to Fondapi.

Taxation

Pension benefits accrued from January 1, 2007 are taxed with a single rate that will be at most 15%, but can drop to a minimum of 9%. In fact, starting from the date of first enrollment, for each year of enrollment after the fifteenth, the member is entitled to a tax discount equal to 0.3%.
For example, if the member retires in the sixteenth year of enrollment, the IRPEF taxation will be equal to 14.7%.

No. Returns are already taxed year by year and, therefore, at the time of payment of the pension benefit, these will be paid without further taxation. Fondapi also shows the value of returns net of taxation within the reserved area.

Tax Deduction

Yes, contributions paid to the pension fund on behalf of a family member fall within the maximum deductibility limit of €5,164.57 for the same member.
ATTENTION: the deductibility limit always remains €5,164.57.

Payments directly withheld from payroll as employee contributions and additional company payments as company contributions are directly deducted in the reference month of the payroll. This allows the worker to immediately take advantage of the tax benefit.

Performance bonus

Among the privileges of those enrolled in supplementary pension schemes is the possibility of paying the productivity bonus directly to their pension fund. This operation, in addition to increasing one’s supplementary pension with an additional salary component, also presents enormous tax advantages:
1. Increased tax deductibility: the performance bonus paid to the pension fund is deductible up to €3,000 in addition to the ordinary ceiling of €5,164.57 per year.
2. Tax exemption of the bonus: performance bonuses paid to pension funds have zero taxation at the time of the supplementary pension benefit.
3. Savings on contributory tax: when the performance bonus is converted directly into cash, the company is obligated to pay a contribution to INPS equal to 9.19% for pension purposes. If the bonus is paid directly to the pension fund, the company is exempt from this contribution.

FAQ

Costs

General

Fondapi applies a membership fee of €22 per year to each member. Additionally, a one-time payment of the registration fee of €11.60 is required only at the time of joining. The registration fee is divided, according to the national collective labor agreement, between the member and the companies. For details, see the “Cost Sheet” available in the “documentation and regulations” section of the fondapi.it website.

No. Fondapi does not apply any fees to the contributions it receives.

Every two months, Fondapi makes small automatic deductions from the contributions made by the company. The total of these deductions over the year is €22.
The member does not (and cannot) manually pay the membership fee.

You can find the list of all Fondapi costs in the “Cost Sheet” available in the “documentation and regulations” section of the fondapi.it website.
This document is subject to the supervision of the pension fund regulatory authority (COVIP) and is prepared by each fund in the same manner. This makes it easier for you to compare Fondapi’s costs with other supplementary pension schemes.

Fondapi is a non-profit institution, therefore, it does not aim for profit.

The indirect costs borne by the member are the management fees applied by Fondapi’s financial managers to the pool of contributions they manage.

Yes. If you stop making contributions, Fondapi will apply deductions as a membership fee until you request redemption.

FAQ

Guarantees

Section under construction

This section is currently under construction.
Thank you for your patience!

Fondapi applies a membership fee of €22 per year to each member. Additionally, a one-time payment of the registration fee of €11.60 is required only at the time of joining. The registration fee is divided, according to the national collective labor agreement, between the member and the companies. For details, see the “Cost Sheet” available in the “documentation and regulations” section of the fondapi.it website.

No. Fondapi does not apply any fees to the contributions it receives.

Every two months, Fondapi makes small automatic deductions from the contributions made by the company. The total of these deductions over the year is €22.
The member does not (and cannot) manually pay the membership fee.

You can find the list of all Fondapi costs in the “Cost Sheet” available in the “documentation and regulations” section of the fondapi.it website.
This document is subject to the supervision of the pension fund regulatory authority (COVIP) and is prepared by each fund in the same manner. This makes it easier for you to compare Fondapi’s costs with other supplementary pension schemes.

Fondapi is a non-profit institution, therefore, it does not aim for profit.

The indirect costs borne by the member are the management fees applied by Fondapi’s financial managers to the pool of contributions they manage.

Yes. If you stop making contributions, Fondapi will apply deductions as a membership fee until you request redemption.

FAQ

Reserved Area

General

  • If you no longer remember your password and want to recover it, you must first connect to the page dedicated to password recovery. The link is also available within the yellow box reserved for access.
  • On the page that opens, you need to enter your tax code and your registration number with Fondapi (the registration number can be found on the welcome letter received upon enrollment or on the periodic communication that the Fund sends to its members each year). Then click “CONTINUE“.
  • After clicking “CONTINUE“, a summary screen opens where you can enter your mobile phone number to receive the new password via SMS.
    Check that the mobile number entered is correct and then click “SEND“.

Before explaining how to recover your Fondapi password if you do NOT know your registration number, we remind you that the FONDAPI registration number is printed on the welcome letter sent at the time of enrollment with the Fund and in the communications that Fondapi periodically sends to members. It is generally found in the “Your data” section.

  • If you no longer remember, or cannot recover, your registration number, you must first connect to the page dedicated to password recovery. The link is also available within the yellow box reserved for access.
  • First, you need to enter your tax code. Then click on “Have you forgotten your registration number“. Finally, click on “CONTINUE“.
  • After clicking “CONTINUE“, a summary screen opens where you can enter your mobile phone number to receive the new password via SMS.
    Check that the mobile number entered is correct.
  • Now you need to upload a valid identity document (front and back) to the system: click on “Browse file”, select the document from your PC and then click “SEND“.
  • The SMS will be sent after verification of the identity document, therefore the operation may take up to 24 hours. For this reason, we recommend searching carefully and keeping your registration number extremely safe.

To ensure the highest security standards, Fondapi will introduce OTP (One Time Password) technology to access the workers’ Reserved Area. The code will be required when accessing your area and every time the Member wants to perform an online operation. However, there is the possibility to access in consultation-only mode without having to use OTP. In this case, however, it will not be possible to perform operations. The Member will only be able to check the position performance and contribution status.

Why?

News about password and personal data theft is, unfortunately, commonplace. For Fondapi, it is a priority to protect and safeguard your savings. The adoption of the OTP system works in this direction! In fact, this temporary password, already adopted by numerous and important entities, allows you to raise the security of your online account to the highest levels.

How Will OTP Work?

The access methods in the first phase remain the same. The Member must enter their tax code and password. Immediately after, they will be asked to generate the OTP code through their smartphone, with the Fondapi App installed, to enter in the appropriate field. After entering it, the Member will have full access to their Area and will be able to perform all operations. For each operation, a new OTP code will be required, always generated through the Fondapi App installed on their phone.

How to Set up OTP to Access the Reserved Area

  1. First, you need to download the Fondapi App on your smartphone.
    Here is the link for iOS – iPhone.
    Here is the link for Android.
  2. Once the App is downloaded, you need to log in (entering tax code and password);
  3. After logging in, you need to register the device.
    Clicking on the three lines at the top left opens a menu.
    Click the first item “Register device”.
  4. Follow the guided procedure, setting a PIN and, if the phone is enabled, biometric recognition (face recognition).
  5. Finally, confirm the PIN by clicking on “Register this device”.
  6. Done! Now the device is correctly registered. When you need to perform an operation, you just need to generate an OTP code from the App and confirm what you have arranged.

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