Pensions, this is the “bonus” of 295 euros per month (which many do not want)

The pensions I always am low and in the future things will not improve: indeed, once the complete transition to grant systemit will get worse.

Also because the average wages received in the meantime are not enough to guarantee a high pension once a person stops working: a worrying situation but one that it’s good to know to be able to intervene immediately increase the amount of pension in the future through a smart savings and investment plan.

The solution to increasing the pension has been clear for some time though understood with most workers: join a supplementary pension fundthus building a second income with one’s savings which can be added to the pension paid by the INPS (or with the professional fund to which it belongs). Often because with the salary already received it is difficult to make it to the end of the month, other times because not enough attention is being paid to plan the future, the use of a supplementary pension still represents a solution for a few, so much so that Italy is far behind other European countries.

The financial advisory firm has launched a new warning about the lack of participation in supplementary pension funds, underlining the possible consequences in the not too distant future. . Cash farmwhich also explains how much you would have to pay to get a “bonus” just below 300 euros per month thanks to the supplementary pension.

Supplementary pension, a legitimate tool for a few

We will not always have the strength to work. There will come a time when you will have to retire and then you will realize that there is a risk that your monthly income will be significantly reduced.

Of course, yes a lot of difference betweenfinal salary and the pension received, with the so-called replacement rate which decreases the more the portion of the allowance calculated by the contribution system increases.

A solution to the low pension, as expected, is to pay money into a supplementary pension fund, to build a second income. An opportunity that also recognizes gods tax benefitsalthough it is still not enough to attract a large number of people.

The “problem” of a supplementary pension is explained in detail Cash farmwhich he began by clarifying what are the risks to pensions. First, it is important to know that it is not possible to return to more favorable rules for calculating pensions, in fact we must hope that they will not worsen in order to make the social security system more stable. Just look at what happened in 2023, when the pensions paid have exceeded the number of new births. In a context where fewer and fewer children are being had and where young people are starting to work, and therefore paying contributions, later and later, it is easy to understand why the high number of retirements represents a problem. Donation income is, of course, less and less, but in the meantime expenditure is increasing.

However, although the supplementary pension could be a solution, of the 24.2 million citizens born between 1965 and 1994, 41% of the population, only 26% have subscribed to a pension fund. Furthermore, among them are 28% of people who have only joined, no more pouring for a long time in the same and therefore not contributing to increase the income that will be recognized to him.

A problem that becomes even more serious if you look at it young women between 30 and 39 years oldand only 17% have entered a supplementary pension fund. And to consider that these women, whose careers are often characterized by a lack of work continuity (usually due to pregnancy), are among the most disadvantaged by the rules for calculating pensions.

We provide a “bonus” of 295 euros per month

But how much should you pay into a supplementary pension fund to ensure at least an adequate income? According to data collected by Moneyfarm, in the media those who entered a form of supplementary pension paying 2,004 euros per year. If you are considering a steady payment up to age 67 and getting an average accrual of around to buy for 20.250 Eurofrom a balanced pension fund (so not characterized by high investment risk) you can a average net income of 295 euros per month.

In the following table you will find the average values ​​found by Moneyfarm research by age group and gender:

MEN*

BROWN*

_{* Table prepared by smileconomy October 2024: real values, net of inflation and taxes, in a balanced line 50% JPM EM Government Bond and 50% MSCI World, ISC Covip 2024 average costs for open pension funds.}

Of course, you do not need who knows how much money there is to ensure that there will be a good additional monthly income, also because it should be emphasized that the amounts on the marked in the tax-free register. One could object, however, that it is often difficult to find an extra 100 or 200 euros per month to allocate to a pension fund; however, it should be remembered that it could be done join a supplementary pension fund even at no coststarting with the distribution of the severance payment that is generally held in the company.