ITALY - The growth of the supplementary pensions sector has been insufficient, with only 13% of workers registering for membership, a figure which must improve for the pensions sector to be sustainable, said Italian pensions regulator president Luigi Scimia. The president of the regulator, (Commissione di Vigilanza sui Fondi Pensione (COVIP)) reiterated the call made by trade unions for development and growth of pensions that are not state provided - so-called "previdenza complementare".
He said at present, returns from subsidiary pensions only accounted for 3% of the GDP, which Scimia called “modest” compared to the returns of 70% in the UK and 100% in the US. The pensions refo...
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