Bad surprise for those who have invested in pension funds: the government wants to increase the taxation on their returns. An unacceptable choice that risks bringing supplementary pensions to their knees. (Analysis as of 27/10/2014)
The government is grappling with the new financial maneuver and from the drafts circulating these days it really seems that it has decided to raise the taxation on pension funds: returns will no longer be taxed at 11%, but at 20%, and there is also for the severance pay, see box.
It is an inadmissible attitude, because, first of all, it is changing the rules of the game during the game, without even giving the possibility to retire. Those who have already joined pension funds had done so on the basis of certain rules, including the taxation of returns to the 11%.
However, the State now raises the rate to 20% and if you don't like this... you can't do anything! You are forced to stay in the bottom! If you really couldn't do without it, why not give the right of withdrawal without penalties as happens, for example, when the bank unilaterally changes the conditions of your account? To make matters worse, the law is retroactive: it already applies to 2014!
Furthermore, if the legislator changes the rules once to the detriment of the citizen, who can guarantee that he will not do it again in the future? All this creates even more distrust in a system, that of pension funds, which has never taken off, because having to give up the severance pay and the obligation, except in rare cases, to have to remain in the fund until retirement have never been a ticket to inviting visit.
To counterbalance these limits, however, there were preferential taxation and employer contributions. Now, with the increase in taxation, some of these incentives become less attractive.
Moral: less convenience and less and less trust. The existence of supplementary pensions is being undermined. Here then is that our criticism that we have been carrying out for years on supplementary pensions becomes more and more topical.
Why does it have to be created only through pension funds and individual pension plans and not through a do-it-yourself flexible that would allow you to tailor investments to your needs at any time? Why not extend the concessions to other products as well (BTp,bond, deposit accounts…) if purchased for retirement purposes?
EVEN THE TFR UNDER THE AX OF THE TAX
Not even those who leave the TFR in the company are saved: also in this case the government will raise taxes. Its revaluation, now taxed at 11%, will be "sheared" at 17%! Our proposal is instead to improve this rate.
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Is it better to leave the severance pay in the company or transfer it to a pension fund?