Why Prevedi

Recent years social security reforms brought about remarkable reductions of future public pensions, supplied by the Italian National Security Institution (INPS), making the need for a supplementary pension truly fundamental. For this reason, an occupational pension fund has been established in every production sector.

Prevedi is the occupational (that is, linked to a specific employment relationship) pension fund of the Italian construction sector. It is a non-profit organization, with the purposes of facilitating and organizing the investment of employees' retirement funds, contributed by both employers and employees.

Prevedi has been established by employers and unions of the Italian construction sector. Trade unions are Fillea-CGIL, Filca-CISL and Feneal-UIL, whereas employer associations are ANCE, ANAEPA-Confartigianato, ANSE-ASSOEDILI-CNA, FIAE-CASA and CLAAI.

Prevedi is subject to Italian Legislative Decree 252/2005 (the law that regulates the Italian pension fund sector) and its activities are supervised by COVIP, the Italian National Authority over occupational and personal pension funds. COVIP authorized Prevedi’s operations on the 8th of August 2002 and consequently signed it up in the dedicated register, with the number 136.

Following a Covip request, Prevedi makes available to all the members and potential members the "Progetto esemplificativo standardizzato - Stima della pensione complementare",(supplementary pension valuation), which allows getting a general idea of what the future retirement pension would be like to, considering some given hypothesis.

Prevedi's operation in 3 steps

1 Subscription and contribution

Since January 1st, 2015 all workers in the Italian construction sector subject to sectorial collective labor agreements “CCNL Edili-Industria, Edili-Artigianato” are members of Prevedi, due to the contractual enrolment (see dedicated page).

Workers have the chance of completing their memberships in every moment, filling in the complete-subscription form. The member would therefore benefit of an additional contribution at the expense of the employer, in the amount of 1% of the gross monthly wage, just deciding to contribute to Prevedi another 1% at its own expense. Moreover, the member has the possibility of deciding whether depositing its monthly severance indemnity or not.

Both workers and their employers are associated to Prevedi. Association gives them the right to vote their own representatives in the pension fund bodies (Assembly, Board of directors), so participating in the administration and management of Prevedi.

For further information about contribution possibilities, click here:

Complete-contribution to Prevedi is convenient, find it out here why:

Do you want to compare Prevedi with other pension funds and discover the most convenient?

Prevedi fears no comparison!

2 Asset management

Each Prevedi member is holder of an individual retirement account, into which contributions (contractual, additional contributions at the expense of employers and workers, severance indemnity) are paid. All assets are deposited in a Depository Bank, selected through a public contest, according to the modalities and conditions provided for by Italian Legislative Decree 252/2005.

Contributions paid to Prevedi will be invested in an investment portfolio, chosen by the member in the complete-subscription form among those offered by the pension fund, according to its own needs and vital statistics. The member may modify that choice later, switching from a portfolio to another.

Contributions are invested through professional asset managers, on behalf of Prevedi. Those asset managers are selected through a public contest, according to the above-mentioned 252/2005, whereas Ministry of Treasury Decree 166/2014 provides standards and constraints regarding the investments of the Italian pension funds (both the decrees are available on the Legislation section of Prevedi website).

For further information about investment portfolios and past returns, click here:

3 Benefits

Any Prevedi's member may choose among many kinds of benefits, according to the rules provided for by articles 11 and 14 of Italian Legislative Decree 252/2005. Those benefits involve the disinvestment of either the entire or the partial individual account, which include both the contributions paid and the returns on the chosen investment portfolio.

Benefits in the event that the employment relationship has run out
Total or partial settlement of member’s personal account, if sectorial collective labor agreements “CCNL Edili-Industria, Edili-Artigianato” are no longer applicable;
If the member has retired, total settlement of the individual account, through either a lump sum payment or an annuity.

If you are uncertain between a lump sum payment and an annuity, this annuity simulation at the time of retirement may be useful.

Click here:

Benefits in the event that the employment relationship has not run out
Advance, up to 75% on member’s personal account, in case of expenditures on health care: at any moment, upon certification of a Family physician (or a qualified public organization);
Advance, up to 75% on member’s personal account, in case of first estate (principal residence) purchasing or renovation: 8 years of membership in a supplementary pension scheme required;
Advance, up to 30% on member’s personal account, in case of any member’s need: 8 years of membership in a supplementary pension scheme required.

For further information about benefits, click here: